Annuities Boost Financial Confidence: TIAA
Other confidence boosters are good savings habits and having a financial advisor, a survey finds.
By Michael S. Fischer
ThinkAdvisor, Sept 23, 2019
Only 27% of Americans in a survey released Monday by TIAA said they were confident they would always feel financially secure, including during retirement, and just 35% were very confident they could maintain their lifestyle for as long as they lived.
Baby boomers and men overall were likelier than younger respondents and women to express confidence in these areas.Various factors are sapping financial confidence among Americans, TIAA said in a statement: uncertainty about the future of social programs and market performance, concerns about unexpected expenses and losses, and fear of saving too little.