The general population of retirees and pre-retirees seek a balance between growth and preservation, the study found. LGBTQ respondents, on the other hand, are less likely to be satisfied with a balanced investment strategy when it comes to retirement savings: Only 20 percent of LGBTQ said they are willing to accept “below average” or “low investment returns” in exchange for more safety, according to the report.
Greenwald & Associates conducted the study on behalf of MassMutual in early 2018. The internet-based survey polled 801 retirees who have been retired for no more than 15 years and 804 pre-retirees within 15 years of retirement. There was an oversample of 315 LGBTQ respondents, including 149 pre-retirees and 166 retirees.
Pre-retirees were individuals who participated in household decision-making regarding finances and had household incomes of at least $40,000, while retired respondents had at least $100,000 in investable assets.