Recently, results from a survey conducted by the AXA Equitable Life Insurance Company was were reported in a press release. The October 2008 study showed that consumers are becoming more conservative with their investments than they were just a few months earlier, in April.
These trends, found among men and women from 35-70 years of age, point towards financial products like annuities having increased appeal. Most significantly,
- A whopping 78% of respondents rank income guarantees among their top financial priorities. Since April 2008, people have been watching their stock portfolios drop; leading to a 16% increase of their interest in less volatile alternatives.
- In October, 71% of the survey respondents gave a high ranking to protection from outliving their retirement savings (as opposed to 59% in April). Women live longer after retirement, so it’s especially important that they don’t run out of money. This is less of a risk with variable retirement annuities, which tend to grow at a certain rate that approximates inflation.
Check with an expert to see what solutions are right for you.
