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Married Americans agree how to spend Nest
Egg even though they're unsure how much
September 2010--Married people feel in
harmony when it comes to managing finances
in retirement, but most don't know how much
they'll have. According to a new COUNTRY
Financial survey, about four out of five (83
percent) of those nearing retirement age
(40-64 years old) are confident they and
their spouse agree about how to handle money
matters in their golden years.
This comes as a majority (56 percent) says
they have no idea or are unsure how much
monthly income they will have in retirement.
"It's difficult to have honest and direct
communication about money if you don't know
how much you will have when it comes time to
retire," says Keith Brannan, vice president
of Financial Security Planning for COUNTRY
"To reach long-term retirement goals, it's
important for couples to develop and update
a plan and regularly communicate about how
they are tracking against that plan."
Men and women disagree about the ease of
Disagreement exists between the two genders
about whether financial conversations get
easier as couples near retirement.
more likely to say communication gets easier
as time goes by (31 percent versus 28
percent), while women are more likely to say
it gets harder (30 percent versus 25
The differences between men and women extend
further when it comes to retirement
planning. Men are more likely to say they
know how much income they'll have in
retirement (46 percent versus 42 percent),
and they're also more likely to say they
will retire later than planned because of
recent economic conditions (43 percent
versus 34 percent).
High income doesn't necessarily mean
The COUNTRY survey also reveals people with
higher incomes are the least optimistic
about when they will retire. As income
rises, confidence in retirement age
$100,000 and above
Confident They Will Retire Ahead of
"Higher income does not necessarily
correlate to confidence in retiring on or
ahead of schedule," adds Brannan.
"Confidence comes from knowing your goals
and having a plan to achieve them, no matter
what your bank statement reads."
For more information on Americans'
sentiments about financial security, please
The COUNTRY survey on retirement
communication is based on a national
telephone survey of more than 1,000 married
Americans ages 40 to 64 and is compiled by
Rasmussen Reports, LLC (www.rasmussenreports.com),
an independent research firm. The margin of
sampling error for this survey is
approximately +/- 3 percentage points with a
95 percent level of confidence.
COUNTRY Financial (http://www.countryfinancial.com)
serves about one million households and
businesses throughout the United States. It
offers a full range of financial products
and services from auto, home and life
insurance to retirement planning services,
investment management and annuities.