Administration May 10, 2001

Financial Turmoil Impacts Retirement Plans

October 5, 2001(PLANSPONSOR.com) - While the events of September 11 have not made much of an impact on the saving and spending habits of most Americans, it has changed some retirement plans, a survey finds.
Reported by

The national survey, commissioned by ING Aetna Financial Services found that close to 20% of respondents between the ages of 55 and 64 now expect to retire later than they previously planned, while for younger workers, retirement expectations have remained unchanged.

In addition, the survey found that

  • some 45% of respondents have recently made or plan to make financial decisions in the spirit of helping to stimulate the US economy, and
  • nearly 90% of those said they were maintaining their same lifestyle and consumption rate to show they won’t be intimidated

Other actions to support the economy include:

  • making a charitable donation, cited by 82%,
  • making a major purchase of an American-made product, listed by 41%, and
  • starting domestic investments, cited by 30%.

Methodology

The survey, Pulse of America, comprised the responses of 545 adults employed full-time. It was conducted between September 28 and 30, 2001.

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