Although 69% of older U.S. financial decision-makers worry about the future of Social Security benefits, Social Security may be succeeding at warning those decision-makers about the importance of retirement income planning.

Researchers at New York Life Insurance Company, New York, include that topic in a study based on a recent survey of 1,002 U.S. adults ages 41 and over who help control the management of at least $100,000 in investable assets.

Only 58% of the survey participants who are still working said they had consulted with a financial advisor, but 92% of the pre-retirees said they had looked at the annual income benefit estimates in their Social Security statements.

About 73% of the pre-retirees said they thought they should know more about generating income in retirement.

But only 10% of the participants understood that experts believe retirees can spend only about 4% of retirement assets each year without running the risk of outliving their assets, and 25% said they think they can safely withdraw 10% of retirement assets each year, New York Life researchers report.