Is Early Retirement in Your Stars?

'What's your sign' takes new meaning in Allstate retirement survey

NORTHBROOK, Ill. -- Can the stars influence us to pinch pennies or spend like there's no tomorrow? Is it merely a coincidence that Scorpios are least likely to pay off their credit card each month but are most likely to regularly balance their checkbooks? Are those born under the sign of Cancer really the most concerned with the future and current finances? Whether one is a devoted star follower or a skeptic, astrology can be helpful in identifying key personality traits that may help or hinder one's ability to save for retirement.

In Allstate's sixth-annual "Retirement Reality Check" survey, which measures Americans' attitudes toward and savings for retirement, Allstate asked respondents' their birth dates, which were used to compare common personality traits to their Zodiac signs.

"We know people enjoy reading their horoscopes for fun, and we thought this would be a simple way to illustrate that everybody has personality strengths and weaknesses that can shape how they save for retirement," said Casey Sylla, president, Allstate Financial, a subsidiary of The Allstate Corp. "While this isn't scientific, we think it's a useful way to drive home the point that a light-hearted approach might be helpful to some people, even with a subject as important as savings."

Following are conventional Zodiac personality descriptions1 along with attitudinal findings from the Allstate "Retirement Reality Check" survey:

Aries (born March 21 - April 19)

Conventional description: Animated, inventive, enthusiastic, mentally strong. Stays busy. Goes after what you want, but may take on more than you can handle. Keeps feelings to yourself.

Allstate survey description: Most likely of any sign to say they've educated themselves about investing (80 percent), but least likely to say they're a good saver (73 percent). In fact, 12 percent of respondents under this sign admit they're not at all saving for retirement. They're also least likely to have saved money for their children's (or grandchildren's) education (18 percent) or to have paid off their home (8 percent).

Analysis: "Obviously educating yourself isn't helpful unless you follow through with action," Sylla said. "Aries need to apply their enthusiasm and mental strength to devise a workable plan to achieve long-term financial goals. A good first step is deciding on your priorities for the short and long term."

Taurus (born April 20 - May 20)

Conventional description: Stubborn, direct, passionate, determined and loyal. Quick to anger and quick to forgive. You may ignore new ideas because you cannot see practical use.

Allstate survey description: Most likely to describe themselves as disciplined (97 percent). Indeed, only 1 percent of them say they're not saving at all for retirement. Least likely to think they'll have to support other family members after they retire (20 percent).

Analysis: "This group demonstrates clearly that worrying shouldn't stop you from taking practical action, so here is a good role model for others," Sylla said. "Clearly it's more important to save for retirement if you believe you'll have to support others as well."

Gemini (May 21 - Jun 20)

Conventional description: Good communicator, adaptable, creative, verbal. Clever, sometimes to deliberately obscure facts. Open to new ideas, but may repeat what you think others want to hear. You seek peaceful balance in life.

Allstate survey description: Gemini are least likely to call themselves optimistic (85 percent), and least likely to have educated themselves about investing (67 percent). But they still consider themselves good savers (84 percent) and are most likely to say they stick to a budget (88 percent).

Analysis: "Having a budget, and sticking to it, is a good start to any financial plan," Sylla said. "Now it's time to put your creativity to task and find other ways to achieve your long-term savings goals."

Cancer (June 21 - July 22)

Conventional description: Patient, nurturing and emotional; sometimes sensitive or moody. A peacemaker who dislikes seeing others suffer. You motivate others by appealing to their emotions, but sometimes hide your own feelings to avoid conflict.

Allstate survey description: Along with Capricorns, Cancers are most concerned about the future (96 percent) and worried about current finances (80 percent). But whatever fears they may have, they are least likely to worry about retirement being boring (4 percent). They're least likely to have an emergency fund that can support their family for at least three months (39 percent).

Analysis: "It's important to understand your own feelings about retirement and to be clear about your goals and expectations," Sylla said. "Working out financial plans with a partner means talking frankly, and revealing one's fears and goals, even if there is conflict while you settle differences."

Leo (July 23 - Aug. 22)

Conventional description: Proud, stubborn, impatient, direct, hard to work with. You don't change your opinions easily. Quick to give, but don't like being asked. You like material things and a mate that puts you on a pedestal.

Allstate survey description: Leos are least likely to call themselves disciplined (84 percent) but most likely to call themselves optimists (96 percent). And they admit they don't like to wait to get the things they want (69 percent). They're most likely to expect retirement to be fun (98 percent). But they're most likely to worry about finances in retirement, especially not being able to afford health care (86 percent).

Analysis: "If you worry about retirement, try a simple first step of writing down the things you want to have and to do, and estimating the cost of those," Sylla said. "That gives you a practical goal to work toward, which can help you be disciplined about saving."

Virgo (Aug. 23 - Sept. 22)

Conventional description: Perfectionist, oversensitive, an organizer and planner. Hard worker. You adapt to people and situations by finding how to be useful. You focus on others, sometimes by praising and sometimes by pointing out imperfections.

Allstate survey description: Virgos are most likely to call themselves financially independent (78 percent). Not surprisingly, they're least likely to think retirement will be financially difficult (29 percent).

Analysis: "Here is a clear illustration that planning leads to practical steps that give savers peace of mind," Sylla said. "Most people will do best if they work hard to achieve their own goals first, and then determine how they can help others."

Libra (Sept. 23 - Oct. 22)

Conventional description: You evaluate situations intellectually. You try to charm others into working toward your goals. You share recognition, avoid confrontation and thrive on balance, which can thwart your goals.

Allstate survey description: Libras are least likely to stick to a budget (71 percent). They're least likely to worry that retirement will be lonely (8 percent). Perhaps that's because they're most likely to expect to provide financial support for other family members after they retire (33 percent).

Analysis: "Here is an excellent example of hindered goals," Sylla said. "It's not likely that anybody can save effectively for their own retirement if they're also trying to address other people's financial goals. Just as everybody needs a budget, everybody needs a clear retirement savings plan."

Scorpio (Oct. 23 - Nov. 21)

Conventional description: Stubborn, jealous, possessive, magnetic and clever. Slow to forget or forgive. Enormous emotional strength and courage, but don't express feelings well. You know how to get what you want.

Allstate survey description: Scorpios aren't consistent in their habits, as they're most likely to balance their checkbook regularly (90 percent), but least likely to pay off credit cards each month (58 percent). They're least likely to think retirement will be relaxing (85 percent) and most likely to expect it to be financially difficult (50 percent). Not surprisingly, they're most likely to think they'll work for pay after retirement (80 percent).

Analysis: "Anybody with emotional strength has a huge advantage in saving for retirement, because once you identify an important financial goal, you should have the desire and discipline to achieve it," Sylla said. "The first step here is to make a financially sound retirement a top goal."

Sagittarius (Nov. 22 - Dec. 21)

Conventional description: Honest, stubborn, energetic and independent. You have trouble learning from your mistakes. You have high standards, and value simple things. Always ready to travel to escape responsibility.

Allstate survey description: They have mixed feelings. They're most likely to pay off credit cards each month (71 percent) but least likely to balance their checkbook regularly (78 percent) or to invest tax refunds or unexpected gifts (44 percent). They're most likely to anticipate a fulfilling retirement (97 percent), but least likely to have done any planning for retirement separate from their spouse/partner (26 percent).

Analysis: "Being independent in financial planning does not mean ignoring the needs or wishes of your partner; it means recognizing that every person may end up alone at some point in retirement because of divorce or death," Sylla said. "Sensible planning should include how you would want to spend any years alone--and to know how much that will cost."

Capricorn (Dec 22 - Jan 19)

Conventional description: You like structure, clear rules and high goals. Hard worker, overly analytical, protective, worrier. You're likely excellent at business.

Allstate survey description: Along with Cancers, they are most concerned about the future (96 percent). They're least likely to have ensured they have adequate auto and homeowners insurance (81 percent). But they're most likely to have bought long-term-care insurance (26 percent).

Analysis: "Hard work and high goals are an excellent combination when it comes to planning for retirement," Sylla said. "People with business skills should treat their own retirement as a business goal."

Aquarius (Jan 20 - Feb 18)

Conventional description: Dependable, honest, considerate, imaginative and independent. You won't budge on a matter of principle. Often have difficulty working with others.

Allstate survey description: Aquarians are least likely to worry about current finances (65 percent). Additionally, they're least worried about finances in retirement, such as paying for health care (68 percent) or being a financial burden on family members (44 percent). Not surprisingly, they're least likely to think they'll work for pay after they retire (57 percent).

Analysis: "If you treat having a financially secure retirement as a matter of principle, that may give you the impetus to create a practical savings plan," Sylla said. "Another impetus is to treat a financially secure retirement as critical to maintaining your independence."

Pisces (Feb 19 - Mar 20)

Conventional description: You can adapt emotionally to the environment. Shy, but you can imitate others to hide your discomfort. Compassionate, generous (sometimes to a fault), and stubborn.

Allstate survey description: Pisces are least likely of any sign to consider themselves financially independent (62 percent). At the same time, they're least likely to think retirement will be "uncertain" (38 percent). They're most likely to consider themselves "very prepared" financially for retirement (31 percent). They're also (along with Leos) most likely to have done some planning for retirement separate from their spouse/partner (41 percent).

Analysis: "If you think you save well, but still worry about being financially independent, start at the beginning by making sure you know what you want out of retirement," Sylla said. "That should help you determine if you are on the right saving path, and that can ease your worry."

Allstate created the sixth-annual Allstate "Retirement Reality Check" survey in conjunction with Mathew Greenwald & Associates. Using a random digit dialing methodology, Greenwald & Associates polled 1,603 people born between 1946 and 1978, with household incomes of $35,000 or more. Retirees were accepted with incomes of at least $20,000. The margin of error (at the 95 percent confidence level) for the total number of respondents in this study is O2.5 percent, O3.5 percent for information specific to Gen Xers or Baby Boomers.

Now celebrating the 75th anniversary of the founding of Allstate Insurance Company, The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate([R])" slogan, Allstate helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 14,100 exclusive agencies and financial professionals in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate([R]). Encompass(SM) and Deerbrook([R])Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers.

1 Conventional Zodiac personality descriptions are derived from following sources: Paranormality.com, MedHunters.com and Essortment.com