Forty-somethings need your help. Bad.
And they are more open to buying an annuity than you might think.
First, the latest batch of alarming “retirement unpreparedness” statistics: More than half of younger baby boomers feel “ totally unprepared” for retirement, according to a just-released survey from Allianz Life Insurance Company of North America. Fifty-four percent of those ages 44-49 – the youngest segment of this country’s 78 million boomers – answered the survey with this most dire response and also expressed a greater need than their older boomer counterparts to “take more control of their financial future” (47% versus 35%), “attain more certainty and financial security” (41% versus 30%), and “reduce their financial vulnerability” (26% versus 22%).
And here’s another big one: 84% of respondents in Allianz Life’s Reclaiming the Future study of Americans aged 44-75, released Oct. 19, say the safety of their money matters more to them now than it did a few years ago.
The survey also revealed it is this lower end of the boomer demographic that is more open to getting help with their financial situation than older boomers.