More affluent investors are starting to losing sleep over whether they'll have enough money saved up to retire comfortably, according to one financial consulting firm that firm that specializes in the affluent and retirement financial investment markets.
Almost two-thirds of mass affluent households are worried about maintaining their financial position, while more than half are worried about being able to retire when they wanted, according to the "2011 Mass Affluent Investor," a report that gauges investors' perceptions published quarterly by the Spectrem Group, a Lake Forest, Ill.-based consulting firm.
An estimated 63 percent of the survey's 1,375 respondents said they're still worried about having enough money set aside for retirement. Roughly 80 percent of mass affluent households seek a guaranteed income during retirement.
Such financial retirement jitters are also prevalent among wealthier households and younger investors.
Nearly half of mass affluent investors younger than 55 who responded don't believe they're saving enough currently to meet their financial goals, according to the report.
In contrast to higher wealth income segments, Spectrem's survey indicates that the percentage of mass affluent investors who actively manage their investments has dropped from 65 percent in 2010 to 40 percent in 2011.Their enjoyment in investing has also fallen considerably, from 52 percent in 2010 to 35 percent in 2011.
The 2011 Mass Affluent Investor report is conducted each month using a rotation of questions. Each quarter a different set of topic questions are fielded. In the first quarter, questions dealt with Attitudes and Behaviors. Respondents qualified for the report based on the aggregate total of the household's indicated net worth.
For more information on the 2011 Mass Affluent Investor report or any other report in Spectrem's 2011 Wealth Segmentation Series, please contact Randy Wostratzky, manager of Business Development, Spectrem Group, at 224-544-5195 or [email protected].
- Jim McConville
Jim McConville