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State Fair poll: Generations split on future of Social Security
Seniors say they can count on Social Security in retirement but younger adults doubtful
| MINNEAPOLIS (Sept. 1, 2009) – The young and old still don’t see eye-to-eye, at least as far as the future of Social Security is concerned. By nearly two-to-one margins, young adults (age 18-44) say they will not be able to count on Social Security to help fund their retirement while seniors (age 65+) say they will be able to depend on Social Security in retirement. Pre-retirees (age 45-64) are nearly evenly divided about the government program’s ability to provide for their retirements.
The findings come from a survey of 1,668 adults at the Thrivent Financial for Lutherans booth at the Minnesota State Fair on Monday, Aug. 31. Overall, 53 percent of respondents said that they would be able to count on Social Security to help fund their retirement, while 47 percent of respondents disagreed. Thrivent Financial Question of the Day at the Minnesota State Fair Will you be able to count on Social Security to help fund your retirement? (A) Yes (B) No
McCullough says the decline of traditional pensions has left many to fend for themselves on retirement issues. She believes this increases the need for individuals to take charge of their retirement futures, regardless of whether they are currently retired for years away from retirement. “A variety of financial tools and services exist to help people not only build their retirement nest egg but also to appropriately draw down those funds so they don’t run out of money in retirement,” McCullough states. “Financial professionals can greatly assist with this delicate balancing act.” Thrivent Financial has developed a new service that addresses one of consumers’ greatest worries - running out of money in retirement. The Thrivent Retirement Income Optimizer®* or TRIO®, is a new type of fee-based financial program that helps individuals diversify their assets for growth and income liquidity, build up sources of dependable income and balance current spending with future income needs. For more information, visit www.thrivent.com/trio/. About the Thrivent Financial Question of the Day at the Minnesota State Fair The Thrivent Financial Question of the Day at the Minnesota State Fair is a self-administered survey of fair goers from 9 a.m. to 9 p.m. daily at the Thrivent Financial for Lutherans booth (Ramberg Senior Center, Judson Ave. and Underwood St.). Survey results are not weighted to be representative of the U.S. population as a whole. About Thrivent Financial for Lutherans Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.6 million members achieve financial security and give back to their communities. Thrivent Financial and its affiliates offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. As a not-for-profit organization, Thrivent Financial creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need. For more information, visit www.thrivent.com. *Thrivent Retirement Income Optimizer® (TRIO®) is a fee-based investment advisory service offered by Thrivent Investment Management Inc. Only eligible representatives holding the required licenses and registrations are able to offer TRIO. Thrivent Financial representatives are registered representatives for securities offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415-1665, 800-THRIVENT (800-847-4836), a registered broker-dealer and investment adviser, and a wholly owned subsidiary of Thrivent Financial for Lutherans. Member FINRA and SIPC. They are also licensed insurance agents of Thrivent Financial. Insurance, investment products, securities, and trust and investment management services and accounts are not deposits, are not FDIC insured, are not insured by any federal government agency and are not guaranteed by Thrivent Financial Bank. Variable insurance contracts, investment products, securities, and trust and investment management accounts may go down in value. For additional important disclosure information, please visit www.thrivent.com/disclosures. -END- 200903335 |
| Contact Information: | |||||
| Brett Weinberg Director, Public Relations brett.weinberg@thrivent.com Phone: (612) 844-4272 | Dave Rustad, APR Senior Media Relations Specialist dave.rustad@thrivent.com Phone: (612) 844-7037 | Stacy Eckes-Borys Senior Media Relations Specialist stacy.eckes-borys@thrivent.com Phone: (920) 628-2445 | |||
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