Tuesday, January 29, 2008
Retirement income products confuse consumers, study shows
Although consumers are interested in retirement, few know exactly how they are going to obtain retirement income, and they lack knowledge about the strategies used to create such income, according to a survey by Spectrem Group.
Less than 20% of those surveyed said they were "very familiar" with four approaches for setting up retirement income payments: im-mediate pay annuities, systematic-withdrawal plans, structured-bond portfolios and laddering certificates of deposit.
Just 19% said they were very familiar with systematic-withdrawal plans, while 15% said they were very familiar with immediate-pay annuities, 10% said they were very familiar with structured-bond portfolios, and 14% said they were very familiar with laddering CDs...
Investment News: Retirement income products confuse consumers, study shows
Less than 20% of those surveyed said they were "very familiar" with four approaches for setting up retirement income payments: im-mediate pay annuities, systematic-withdrawal plans, structured-bond portfolios and laddering certificates of deposit.
Just 19% said they were very familiar with systematic-withdrawal plans, while 15% said they were very familiar with immediate-pay annuities, 10% said they were very familiar with structured-bond portfolios, and 14% said they were very familiar with laddering CDs...
Investment News: Retirement income products confuse consumers, study shows
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