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Caution the new ‘sure’ bet?
Survey finds most Americans less willing to take risks with money
| MINNEAPOLIS (May 19, 2010) – In a time of economic challenges, Americans are doubling down on caution. A recent Thrivent Financial/Kiplinger Survey of Family Finances found that 55 percent of American adults said that economic challenges have caused them to take fewer risks with their money. Just 5 percent of adults said that challenges have caused them to take more risks with their finances.
Those most inclined to avoid risk included pre-retirees (59 percent) and those ages 18-24 (57 percent). Just under half (49 percent) of seniors reported taking fewer risks. “In uncertain economic times, many Americans seek safety and security,” said Patrick Egan, director, Asset Management, for Thrivent Financial. “It’s one thing for people to be more cautious due to market volatility, but quite another to say ‘I’m done with the stock market.’ By shunning stocks and avoiding market volatility risk, people face the challenge of not having enough potential growth in their retirement portfolio to reach their long-term goals.” Married individuals were 11 percentage points more likely than their single peers (59 percent vs. 48 percent) to say they were taking fewer financial risks with their money. “Safety and security are not the same,” Egan noted. “We strongly advocate that people first understand their own attitude toward financial risk, then develop appropriate strategies for reaching their financial goals consistent with those attitudes. A financial professional can often help people find that appropriate balance.” Related Information More information from the Thrivent Financial/Kiplinger Survey of Family Finances is available in the June 2010 issue of Kiplinger’s Personal Finance magazine as well as online at kiplinger.com/links/moneysurvey and thrivent.com/moneysurvey. About the Thrivent Financial/Kiplinger Survey of Family Finances The Thrivent Financial/Kiplinger Survey of Family Finances was conducted by Synovate, a global market intelligence firm. The national online survey was conducted between March 3-5, 2010, among a nationwide sample of 1,000 U.S. adults aged 18 and older. The margin of error for questions posed to all 1,000 respondents is +/- 3 percent. About Kiplinger’s Personal Finance Kiplinger’s Personal Finance magazine has been providing millions of Americans with down-to-earth advice on managing their money and achieving financial security since 1947. Along with Kiplinger.com, it is a highly trustworthy source of information on saving and investing, taxes, credit, homeownership, paying for college, retirement planning, car buying, and many other personal-finance topics. Join Kiplinger on Facebook and follow Kiplinger on Twitter. 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 Thrivent.com. Also, you can find us on Facebook and Twitter. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, 800-847-4836, a FINRA and SIPC member and a wholly owned subsidiary of Thrivent Financial for Lutherans. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents of Thrivent Financial. Bank products and trust services are offered through Thrivent Financial Bank®, (Member FDIC, Equal Housing Lender), a wholly owned subsidiary of Thrivent Financial for Lutherans. Insurance, securities, investment advisory services, and trust and investment management accounts are not deposits, are not guaranteed by Thrivent Financial Bank, are not insured by the FDIC or any other federal government agency, and may go down in value. For additional important disclosure information, please visit Thrivent.com/disclosures. -END- 201001845 |
| 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 | ||
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