The Path to Retirement Versus the Road to the Final Four(R)
March 17, 2008 3:32 PM EDT
As March Madness(R) kicks into full gear, a new Lincoln Retirement(SM) Institute survey finds that more people are focused on money in the bank than wagering on this year’s NCAA Tournament.WHAT: March Madness(R) is a phenomenon that traditionally gripsAmericans across the nation from the first week of Marchthrough the first week of April. For more than 75 years, thiscraze has infiltrated the home, classroom and, often, theoffice. However, the most recent survey by the LincolnRetirement(SM) Institute found that people are taking thenews about the reality of an economic slowdown to heart. Thesurvey surprisingly discovered that people expect to spendmore time thinking about planning and saving for retirementin March than focusing on their NCAA tournament bracketpicks. Statistical highlights from this up-to-the-minutesurvey(1) include:(Logo: http://www.newscom.com/cgi-bin/prnh/20050830/LFLOGO ) — Seventy-two (72%) percent of those surveyed said they willspend less than one hour making their March Madness(R)picks this year.– Eighty-seven (87%) percent of survey respondents plan tospend up to 5 hours in March thinking about planning andsaving for retirement.– Not surprisingly, surveyed men are planning to dedicatemore time to their March Madness(R) bracket picks thansurveyed women.– However, both genders plan on spending equal amounts oftime thinking about their financial futures, indicatingthat women are beginning to disprove the stereotypethat they don’t have a handle on or interest in theirfinances.– Survey respondents in the 18-24 age group anticipatespending the same amount of time thinking about planningand saving for retirement as selecting their MarchMadness(R) bracket picks, showing that those in theyoungest generation put as much emphasis on finances asthey do fun.– In the older age groups, especially those ages 45-54,nearly three times as many people estimate they willspend significantly more time, up to 10 hours, thinkingabout their retirement planning efforts as compared toengaging in NCAA tournament research.– Twice as many people surveyed gave themselves an “A+” fortheir in-depth knowledge of their 401(k) plans andinvestment choices versus their knowledge of NCAAtournament player statistics and college team rankings.– Nearly 3 out of 5 people surveyed gave themselves apassing grade when it comes to specific knowledge of their401(k) or retirement plans, suggesting that many aregetting more comfortable with the retirement tools theyhave in place.– Surveyed men were almost twice as likely as women togive themselves top marks (”A” or “B”) in terms oftheir knowledge of their 401(k) plan, investmentallocations and stock options.– It is a telling sign of the economic times that more thantwice the number of survey respondents plan to check theirbank account balances when logging onto their computers inMarch versus learning the latest on the NCAA tournamentscores.WHEN: March Madness(R) 2008 NCAA TournamentMarch 17-April 2, 2008WHO:Tim JohnsonChief Investment Strategist, Lincoln Financial Advisors, a25-year industry veteranHOW:”As Americans face the possibility of spending $4 for agallon of milk or gas, economic realities are hitting uswhere us it hurts — our wallets. These issues demand ourattention and require new levels of discipline. What isusually a national celebration of the underdogs andpowerhouses of college men’s basketball is being relegated toa more intense focus on smart money management. As a teamascends to its ‘one shining moment,’ Americans are trying toensure their retirements are filled with many shining momentsof their own,” said Tim Johnson, Lincoln Financial Advisors.ADDITIONAL: The Lincoln Retirement(SM) Institute is an organizationwithin Lincoln Financial Group (LFG) that was created toconduct research, organize the intellectual capital of thecompany and work with external thinkers on retirementsubjects that are relevant to the baby boomer generation.Please visit the Lincoln Retirement(SM) Institute web site,http://www.LincolnFinancial.com, for interactive tools,calculators and fresh content to help baby boomers andretirees prepare for their lengthy retirement years. Thissurvey was conducted by Zoomerang, an independent researchfirm based in San Francisco. A nationally representativeonline survey of 392 U.S. adults ages 18-54 of all incomelevels was conducted March 7-12, 2008.CONTACT: To set up an interview, please contact:Jeff Van Pelt, Lincoln Financial Advisors, 603-226-5216Megan Haney, Tierney Communications, 215-790-4344
Tags: bracket, final, four
10 comments Monday 17 Mar 2008 | Trent | Uncategorized