Retirement Wisdom: Insights From Everyday Americans Illuminate a Path to Financial Security
18 Outubro 2023 - 1:51PM
Business Wire
Recent Lincoln Financial Group research reveals
retirees’ advice and regrets for retirement planning.
In an ever-evolving financial landscape, Lincoln Financial Group
(NYSE:LNC) continues shedding light on the intricacies of
retirement planning through the voices of those who have traveled
it before. Recent research conducted by Lincoln reveals that 37% of
US adults express shaken confidence in their retirement
preparedness¹ serving as a wake-up call for individuals and
financial professionals alike to closely evaluate their retirement
strategies.
Key findings from the research indicate that a significant
portion of consumers are grappling with confidence in their ability
to prepare for and manage their finances throughout retirement. The
economy, stock market fluctuation and global events are attributed
as key influencers for the lost certainty. In fact, a mere 30% of
retirees are very confident in their ability to manage their
finances during retirement effectively and 62% wish they could go
back in time and change the way they planned for retirement.¹
“Our research underscores the enduring wisdom of retirees and
signals a crucial message for the entire financial planning
industry,” says Ralph Ferraro, SVP, President, Retirement Plan
Services, Lincoln Financial Group. “It reinforces the urgent need
for personalized support, continued education and innovative
solutions. At Lincoln, we’re leading the charge by investing in
one-on-one guidance and cutting-edge resources to empower informed
decisions, bridge the knowledge gap and help individuals achieve a
secure retirement future.”
Key findings from the research indicate resounding themes that
echo through the narratives of more than 250 retirees surveyed:
Early and consistent savings
- “Start saving and investing as early as possible.” - Age
71
- “Start saving at least 10% of your income as early as
possible.” – Age 72
Developing an investment portfolio early in one’s
career
- “Invest early; compound interest is a thing,” - Age 69
- “Invest in 401k, IRA, Roth, etc. as soon as you can. The magic
of compound interest works best from the earliest ages, but never
too late to get something.” - Age 67
Working with financial professionals
- “Use a good financial advisor, seek pensionable annuities or
other solid income with them.” -Age 73
- “Be mindful of investments. Do research. Find a good financial
advisor.” – Age 74
Establish healthy personal finance habits
- “Don’t get into debt; rather save your money and wait until you
can afford what you want.” – Age 73
- “Over save and underspend. Plan for plenty of margin in your
retirement finances.” – Age 69
Lincoln Financial Group has a range of financial wellness
resources for both retirement plan sponsors and participants. To
learn more, visit our financial wellness solutions page.
¹Lincoln Financial, Consumer Sentiment Tracker, 2023
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help
people take charge of their financial lives with confidence and
optimism. Today, approximately 16 million customers trust our
retirement, insurance and wealth protection expertise to help
address their lifestyle, savings and income goals, and guard
against long-term care expenses. Headquartered in Radnor,
Pennsylvania, Lincoln Financial Group is the marketing name for
Lincoln National Corporation (NYSE:LNC) and its affiliates. The
company had $290 billion in end-of-period account balances net of
reinsurance as of June 30, 2023. Lincoln Financial Group is a
committed corporate citizen included on major sustainability
indices including the Dow Jones Sustainability Index North America
and ranks among Newsweek’s Most Responsible Companies. Dedicated to
diversity, equity and inclusion, we are included on transparency
benchmarking tools such as the Corporate Equality Index, the
Disability Equality Index and the Bloomberg Gender-Equality Index.
Committed to providing our employees with flexible work
arrangements, we were named to FlexJobs’ list of the Top 100
Companies to Watch for Remote Jobs in 2022. With a long and rich
legacy of acting ethically, telling the truth and speaking up for
what is right, Lincoln was recognized as one of Ethisphere’s 2023
World’s Most Ethical Companies®. We create opportunities for early
career talent through our intern development program, which ranks
among WayUp and Yello’s annual list of Top 100 Internship Programs.
Learn more at. Follow us on Facebook, Twitter, LinkedIn, and
Instagram. Sign up for email alerts at http://newsroom.lfg.com.
LCN-6026521-101623
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Media Contact: Tammy Myrick Lincoln Financial Group (743)
208-4106 Tamala.Myrick@lfg.com
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