Americans' Retirement Optimism Likely Built on Shaky Ground.MINNEAPOLIS -- Seven in 10 Americans say they are confident or hopeful about their retirement finances and four in five report taking steps to prepare for their retirement years, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a recent national survey of non-retired adults for Thrivent Financial for Lutherans Thrivent Financial for Lutherans (first word pronounced "THRIVE-int" — or more precisely, alluding to contractions, "thrive—n't"; IPA pronunciation: /ˈθɹaɪvɘnt/ . Unfortunately, the survey also revealed that people's optimism may be misguided mis·guid·ed adj. Based or acting on error; misled: well-intentioned but misguided efforts; misguided do-gooders. mis·guid . The survey found most Americans have never estimated how much money they will need for retirement and most also fail to regularly monitor their retirement assets. In addition, three in five have not met with a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. provider, seven in 10 have not sought retirement advice from books, magazines, television or the Web, and one in four have personally saved less than $5,000 for retirement. "Our survey reveals too many Americans are operating in the dark when it comes to retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. ," said Nikki Sorum, Thrivent Financial senior vice president of marketing and products. "Confidence needs to be built on real needs such as determining one's financial needs and then developing a strategy for reaching those goals." Only 47 percent of Americans have estimated the amount of money they will need for retirement. Similarly, 49 percent of Americans say they regularly monitor their retirement needs and assets. Twenty-six percent of Americans have personally saved less than $5,000 for retirement with young adults age 18 to 34 (39 percent) and those with incomes of less than $35,000 (43 percent) being most apt to be under this threshold. Still, one in five pre-retirees age 50 to 64 and one in seven of those with incomes of at least $75,000 have saved less than $5,000. One in four Americans acknowledge being worried (22 percent) or in a panic (4 percent) about their retirement finances. Even those with incomes of more than $75,000 report being worried (23 percent) or in a panic (2 percent). Interviews were conducted for Thrivent Financial by Quinley Research, Claremont, Calif., between November 29 and December 5, 2004, among 661 non-retired U.S. adults. The margin of error is +/- 4 percent. Thrivent Financial for Lutherans is a not-for-profit Fortune 500 financial services organization helping 2.8 million members achieve their financial goals. Thrivent Financial and its affiliates offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. As a not-for-profit organization, Thrivent Financial sponsors national outreach programs and activities that support congregations, schools, charitable organizations This article is about charitable organizations. For other uses of the word charity, see Charity. A charitable organization (also known as a charity) is an organization with charitable purposes only. and needy individuals. For more information, visit www.thrivent.com. Securities are offered through Thrivent Investment Management Inc., 625 Fourth Ave. South, Minneapolis, MN 55415-1665, 800-THRIVENT (800-847-4836) a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Thrivent Financial for Lutherans. Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). . Member SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . |
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