A common device of motivational speakers is to point out the reasons big things in our lives don’t get accomplished. The usual lament is “If I could only get around to it.”
The speaker then delivers the punch line by handing out a coin to everyone in the audience that says “One Round Tuit.”
As we all know, the lack of a “round tuit” delays countless good-intentioned actions from ever happening. When LIMRA researchers interview consumers about financial matters, the response “haven’t gotten around to it” tends to show up in important areas.
In the 2014 Insurance Barometer survey, when consumers were asked why they have not purchased life insurance, 30 percent said because they haven’t gotten around to it. Insurance industry professionals have heard this response many times. In fact, one of the reasons they haven’t gotten around to it may be found in a different response where 37 percent said “not sure how much I need or what type to buy.”
In another example, LIMRA Secure Retirement Institute (SRI) researchers found that when employees were asked why they were not saving in their company sponsored retirement plan, 12 percent said they haven’t gotten around to it. In a separate LIMRA SRI survey workers age 55-64 who are saving but do not have a strategy for their retirement income were asked why they didn’t and 42 percent said they had not gotten around to it.