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Workers Stick To Original Savings Strategies

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NU Online News Service, Dec. 10, 12:41 p.m. – The majority of U.S. workers seem to be sticking to their retirement savings strategies in spite of the recent stock market slump, according to the results of the latest Principal Financial Well-Being Index survey.

Researchers at Harris Interactive Inc., Rochester, N.Y., conducted the survey in November for the Principal Financial Group, Des Moines, Iowa. The researchers polled 1,654 workers at businesses with 10 to 1,000 employees.

Researchers found that 66% of the participants said they were following the same retirement investment philosophy that they followed before the slump. Fifty-eight percent of the participants who were holding steady said they were doing so because they believe in long-term investing, and 13% said they were doing so because of the advice of a financial planner.

The researchers also asked about 2003 New Year’s resolutions. The most popular resolutions involved exercising more and losing weight, but 44% of the participants said they would resolve to save more money.