FOR IMMEDIATE RELEASE:
Simon Erskine Locke
Islay Communications, Inc.
Recognition of Need to Take More Investment Risk, Anxious About Investment Loss
Majority of Consumers Say Advisors Have Responsibility to Present Guaranteed Lifetime Income Products as Option to Clients
WASHINGTON, DC, March 8, 2017 – The number of Americans who said they were extremely or
very concerned about their ability to live comfortably throughout retirement jumped to 37% in December 2016 up from 30% in 2015. The number of respondents concerned about maintaining their standard of living in retirement rose to 34% up from 25%, according to a new survey of 1,105 retirees and pre-retirees with more than $100,000 in household assets conducted in December 2016.
The 3rd Annual Guaranteed Lifetime Income Study conducted by leading market research firm Greenwald & Associates and CANNEX, an independent provider of pricing and product comparison analytics to the financial services industry, shows that respondents who are very concerned about earning as much as possible on investments to meet their retirement goals rose to 40%, up from 27% in 2015.
The survey also found that 81% of consumers think those over age 50 must have a strategy in place to protect against significant investment loss. In addition, more than half say they would opt for an investment that offered a lower but certain return over a higher return with a greater possibility of loss.
Only about one in five said they are highly knowledgeable about what investments to buy in order to achieve their goals and how to protect themselves from drops in the market. “The study reveals high levels of uncertainty post-election, particularly among pre-retirees with lower
savings levels, and a focus on maximizing returns in the low interest rate environment,” said study director Doug Kincaid of Greenwald & Associates, who shares further perspective on the Guaranteed
Lifetime Income survey results on the Greenwald Research website. “It shows that consumers recognize the value of guaranteed income and expect advisors to discuss income strategies with them.”