July 15, 2011 by Christian Schappel
More than three-quarters (76%) of workers 55 and older say the last few years have provided them with a much-needed financial wake-up call.
As a result, 84% said they now exercise a more cautious investment strategy, according to a recent Harris Interactive telephone survey of more than 1,000 over-55 U.S. workers age.
Retirement plan changes
What are workers now looking for from their retirement plans? Almost two-thirds (65%) said they want investments that are almost guaranteed not to lose value — like CD’s or annuities.
The survey data revealed that protecting assets is now five times more important to older workers than investing aggressively, and 60% are looking to protect their income from market losses.
And that’s not all: 80% say they want education and advice on saving and investing from their employer.
Retirement now means less work
Other findings:
- Older workers intend to delay retirement — from 64 to 69, and
- Two-thirds say they’d like to keep working at least part time after they retire.
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