Interest In Guaranteed Retirement Income Products Soars As Investors Turn More Cautious
More than eight in 10 investors say they would be more likely to remain invested in stocks if they owned guaranteed retirement income products, in a poll of 1,000 investors conducted by Prudential in May.
Not surprisingly, the number of investors concerned about the markets and their own retirement prospects has increased since 2006. Six in 10 are concerned about having enough income, 56% are uncertain about their own investment strategy, and 68% say they are more cautious than ever before. Almost three out of four are worried about a significant market decline just before or after they retire.
The survey, “2006 to 2011: Changing Attitudes About Retirement Income,” included people age 45 to 75 with at least $100,000 in annual income, $100,000 in investable assets, and $100,000 in retirement savings.
Two out of three respondents said they want financial advice, and nearly half said they need advice on what financial issues they need to think about and what solutions may suit them best.
Prudential also recently released a white paper on stable value products that details the different types of products available and says they achieved average annual returns of 6.1% between 1989 and 2009.