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November 02, 2005 at 07:00 PM
Baby Boomers And Annuities
- Nearly 70% of boomers believe annuities can provide a reliable savings source for income in retirement
- Nearly 70% expect to maintain their current lifestyles in retirement.
- 46% say they do not know enough about annuities to decide whether or not they are a good investment.
- 42% say they are intimidated by annuities.
- 20% think annuities are for wealthy people.
- More than 60% will rely on restricted investment vehicles such as 401(k) plans, Keogh plans or pensions to fund their retirements.
- Fewer than 20% will rely heavily on stocks and bonds to fund their retirements.
- Among women boomers, almost 60% agree with the statement, “Protecting my retirement savings from loss is important, but I also want to be able to grow my savings,” compared to 40% of men who agree.
Source: ING US Financial Services/Roper Public Affairs
