Northwestern Mutual: Healthcare costs cited by majority of Americans as top obstacle to retirement security10/17/2017
MILWAUKEE, Oct. 17, 2017 /PRNewswire/ — Americans appearance healthcare costs as the arch obstacle to banking aegis in retirement, according to new abstracts from Northwestern Mutual’s 2017 Planning & Progress Study. In fact, the cardinal of Americans citation healthcare costs as their arch affair acicular badly from 45% in 2016 to 58% this year. Abridgement of accumulation (44%) and Social Aegis ambiguity (31%) followed healthcare costs to annular out the top three.
“What we’re seeing is a assemblage of complicated dynamics,” said Rebekah Barsch, carnality admiral of planning, Northwestern Mutual. “Longer lifespans, government agitation about the approaching of healthcare and Social Security, and connected bread-and-butter ambiguity all add addition band of alternation to the already arduous assignment of retirement planning.”
The analysis appear today is allotment of Northwestern Mutual’s 2017 Planning & Progress Study – an anniversary analysis activity exploring Americans’ attitudes and behaviors against affairs and planning.
Findings announce that the connected actuality of Social Aegis as a retirement assurance net is added belief on Americans. For the aboriginal time this year, Social Aegis belted out abridgement of planning to become the third cited obstacle to banking aegis in retirement. Additionally:
Only 2 in 10 (20%) Americans accept it’s “extremely likely” that Social Aegis will be accessible back they retire Women are the atomic optimistic, with about 6 in 10 (59%) adage Social Aegis is “not at all likely” or “somewhat likely” to abide compared to 52% of men. This is noteworthy accustomed that 4 in 10 women apprehend to await on Social Aegis as their “only” or “primary” antecedent of assets in retirement
Despite growing all-overs about retirement costs, the approaching availability of Social Security, and bereft retirement savings, this year, beneath Americans said there is some adventitious of outliving their accumulation — bottomward to 62% from 69% in 2016.
However, added abstracts belie this optimistic outlook:
7 in 10 Americans acquaintance some akin of all-overs about outliving their retirement savings
Less than bisected (47%) of Americans feel actual financially defended and about 2 in 10 apprehend to feel beneath defended over the abutting 12 months
Under one third (31%) accept they excel at accidental to retirement savings
4 in 10 (43%) accept there is added than a 25% adventitious of outliving their accumulation entirely
“While it’s auspicious to see bodies cogent added aplomb about their savings, it’s important to bethink that retirement planning is a chase not a sprint,” connected Barsch. “The key to acceptable is pacing yourself to be able for the abounding afar and twists and turns ahead.”
About The 2017 Northwestern Mutual Planning & Progress Study The 2017 Planning & Progress Study was conducted by Harris Poll on account of Northwestern Mutual and included 2,117 American adults age-old 18 or earlier (2,117 interviews with U.S. adults age 18 in the General Population and an oversample of 632 interviews with U.S. Millennials age 18-34) who alternate in an online analysis amid February 14 and February 22, 2017. Results were abounding to Census targets for education, age/gender, race/ethnicity, arena and domiciliary income. Ability account weighting was additionally acclimated to acclimatize for respondents’ ability to be online. No estimates of abstract sampling absurdity can be calculated; a abounding alignment is available.
About Northwestern Mutual
Northwestern Mutual has been allowance families and businesses accomplish banking aegis for 160 years. Through a distinctive, whole-picture planning access including both allowance and investments, we empower bodies to be financially assured so they can alive activity differently. We amalgamate the ability of our banking professionals with a alone agenda acquaintance to advice our audience cross their banking lives every day. With $250.4 billion in assets, $28.2 billion in revenues, and added than $1.6 trillion worth of activity allowance aegis in force, Northwestern Mutual delivers banking aegis to added than 4.4 actor bodies who await on us for life, affliction assets and abiding affliction insurance, annuities, allowance and advising services, assurance services, and arbitrary portfolio administration solutions. The aggregation holds added than $100 billion of applicant assets as a allotment of its abundance administration aggregation and advance services. Northwestern Mutual ranks 97 on the 2017 FORTUNE 500 and is accustomed by FORTUNE® as one of the “World’s Most Admired” activity allowance companies in 2017.
Northwestern Mutual is the business name for The Northwestern Mutual Activity Allowance Aggregation (NM), Milwaukee, WI (life and affliction insurance, annuities, and activity allowance with abiding affliction benefits) and its subsidiaries. Northwestern Mutual and its subsidiaries action a absolute access to banking aegis solutions including: activity insurance, abiding affliction insurance, affliction assets insurance, annuities, activity allowance with abiding affliction benefits, advance products, and advising articles and services. Subsidiaries accommodate Northwestern Mutual Advance Services, LLC (NMIS) (securities), broker-dealer, registered advance adviser, affiliate FINRA and SIPC; the Northwestern Mutual Abundance Administration Company® (NMWMC) (fiduciary and fee-based banking planning services), federal accumulation bank; and Northwestern Long Term Affliction Allowance Aggregation (NLTC) (long-term affliction insurance).
Northwestern Mutual Long Term Care
: – Northwestern Mutual Long Term Care
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