A new report reveals a greater aversion to risk among boomer-age investors.
Released by AIG Life and Retirement and Age Wave and conducted by Harris Interactive, the 2012 online survey reveals that nearly three quarters (72 percent) of 3,426 individuals ages 55 polled say the recent economic uncertainty provided a “financial wake-up call.”
Eight in ten (80 percent) of those 55 and older say they are now more cautious in their approach to investing: They are more likely to seek financial peace of mind as a goal versus potentially higher, but riskier, returns.
The surveys finds that more than four times as many people choose saving enough to have “financial peace of mind” (61 percent) as a top financial priority compared to accumulating as much wealth as possible (14 percent).