Do not put content on the brand signature area RETIREMENT INVESTMENTS INSURANCE Retirement Readiness...
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Transcript of Do not put content on the brand signature area RETIREMENT INVESTMENTS INSURANCE Retirement Readiness...
RETIREMENT • INVESTMENTS • INSURANCE
Retirement Readiness begins in the workplace… and employers play an increasingly important role.
Redefining “Retirement Readiness”Redefining “Retirement Readiness”
Speaker Name and Registered Representative StatusDate(Location)
Nothing contained herein should be construed as (i) an offer to sell or solicitation of an offer to buy any security or (ii) a recommendation as to the advisability of investing in, purchasing or selling any security. Any opinions expressed herein reflect our judgment and are subject to change. Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (1) general economic conditions, (2) performance of financial markets, (3) interest rate levels, (4) increasing levels of loan defaults (5) changes in laws and regulations and (6) changes in the policies of governments and/or regulatory authorities.
The opinions, views and information expressed in this presentation are subject to change without notice based on market conditions and other factors. The information provided is not a recommendation to buy or sell any security.
Products and services are offered through ING family of companies in the U.S. Please log on to www.ING.com/us for information regarding other products and services offered through ING family of companies in the U.S. Not all products are available in all states. © 2012 ING North America Insurance Corporation
CN0307-8477-0415
Important Information
2
Being Ready
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read i ness (n.)
The state of quality of being ready; preparation; promptness; aptitude;
willingness-Webster’s Dictionary
Readiness is Has Many Levels
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Retirement Readiness
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How should I invest?
How do I preserve my
savings?
Am I saving enough?
Will I have enough?
How do I manage different
accounts?
What about my other goals?
Where can I go for
guidance?
ING Retirement Readiness Study Demographics
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• 1,510 full-time workers
• Age 25+
• Household Income $40,000+
• June, 2012
Employees Lack Financial Confidence
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Only one-fifth
•Very confident about their financial situation
•Experience no financial distress
Financially Confident
Financially Distressed
Comfort Level Making Financial Decisions
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Only a third are very comfortable. More than half only somewhat comfortable – 10% actively uncomfortable making financial decisions
Confidence in Ability to Fulfill Financial Activities
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Confident (Somewhat and Very)
Very ConfidentNot Confident
Less than one fifth are very confident that they are saving enough for retirement
10
Significant Challenges for Retirees
Ranking of Savings Goals (#1,2,3)
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Retirement is a critical savings priority.
Altruistic goals of lesser importance (i.e. not MAIN savings goal).
Thoughts About Retirement
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Worries and uncertainty about retirement savings and lifestyle more common than confidence and optimism.
Mixed Emotions: Words About Retirement
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Confidence / Optimism
Uncertainty / Pessimism
Few Currently Seek Guidance
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Access
Don’t Access
But, People Want Guidance
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“These would be useful services for an employer to make available”
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Availability (via Employer) of Financial Guidance
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Available
Not Available
Employees Likely to Use if Offered by Employer
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Finances a Workplace Distraction
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34% spend five or more hours, each week, at work, preoccupied with personal
finances
% o
f w
orke
rs
# of hours per week
Hours (per week), at work, on personal finances
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At least some time at work on personal finances
Money Problems
Retirement Worries
Checking Financial Accounts
Personal Bills
Managing Personal Finance Life
How Financial Guidance would Change Work Time Spent on Personal Finances
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For most, access to financial guidance would decrease or “not increase” impact on work-time spent on finances.
Anticipated and Actual of Key Guidance Services
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Respondents were also given the option “would decrease satisfaction” or “has a negative impact,” and in no instance did more than 4% select the “negative” impact. Average of negative impact
responses: 2.5%
Would improve my satisfaction with my employer
My employer offers it and I appreciate it
If employer offered guidance, I would…
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“My employer currently has my best interests at
heart”50%50%
Employee Sentiment
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“I would have a more positive impression of my employer if they offered a more comprehensive set
of retirement and financial services benefits and
options”
“I would have a more positive impression of my employer if they offered a more comprehensive set
of retirement and financial services benefits and
options”
“A workplace retirement savings
plan is one of my top considerations when
reviewing an employer's benefit
plan”
“A workplace retirement savings
plan is one of my top considerations when
reviewing an employer's benefit
plan”
7575%%
8181%%
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