Lincoln Financial Group’s Retirement Power®
Participant Study reveals only half of people discuss retirement savings
with their significant other
RADNOR, Pa. -- (Business Wire)
This Valentine’s Day, instead of whispering sweet nothings, why not try
“you look lovely tonight, and I think we should talk about financial
planning and our retirement goals.” Lincoln Financial Group’s (NYSE:
Power® Participant Study shows that only approximately
half of couples who are participating in their workplace retirement plan
say they discuss retirement savings and investment decisions with their
partner all or most of the time.
This is a trend that worsens with age. Sixty-three percent of couples in
their 20s say they discuss retirement savings and investment decisions
with their spouse or partner all or most of the time. Once couples are
in their 30s that number goes down to 56 percent, and drops to an
average of 48 percent for those 40 and over.
“Our Retirement Power study showed that people participating in their
employer-sponsored retirement plan are more confident and more
optimistic today than they were just five years ago, and that most
understand how much they need to save to be on track for retirement,”
said Jamie Ohl, president, Retirement Plan Services, Lincoln Financial
Group. “Now they need to start having conversations with their
significant others about savings, and what they envision for their
Within couples, there’s also a disconnect between men and women when it
comes to working together to manage their retirement planning — 49
percent of women say they and their spouse or partner work together to
manage retirement planning for the household, while only 37 percent of
men say the same.
“The majority of people are going to rely on their employer-sponsored
retirement plan as their main savings vehicle for retirement,” Ohl said.
“Something as important as your financial future is worth discussing
regularly with your spouse or partner, to ensure your family is on
Lincoln Financial has tools
online that can help start the conversation, like the
retirement contribution planner or the cost
of delaying retirement savings calculator.
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help empower
people to take charge of their financial lives with confidence and
optimism. Today, more than 17 million customers trust our retirement,
insurance and wealth protection expertise to help address their
lifestyle, savings and income goals, as well as to guard against
long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln
Financial Group is the marketing name for Lincoln National Corporation
(NYSE:LNC) and its affiliates. The company had $253 billion in assets
under management as of December 31, 2017. Lincoln Financial Group is a
committed corporate citizen and was named one of the Forbes Best
Employers for 2017, is a member of the Dow Jones Sustainability Index
North America, and received a perfect score of 100 percent on the 2018
Corporate Equality Index. Learn more at: www.LincolnFinancial.com.
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About Retirement Plan Services
For more than 50 years, Lincoln Financial Group’s Retirement Plan
Services (RPS) business has been helping savers boost their retirement
readiness through employer-sponsored plans. Our retirement plans help
employers recruit and retain top talent, while our combination of
high-tech and high-touch service creates an engaging customer experience
that drives positive outcomes. The RPS business helps people understand
how steps they take today can help them get to and through retirement
tomorrow. The business serves approximately 1.5 million participants
through 20,000 plan sponsors with $67 billion in assets under management
as of December 31, 2017.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180213005979/en/
Lincoln Financial Group
Source: Lincoln Financial Group
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