Fidelity Poll Reveals Investment Selection Most Pressing Concern
BOSTON, MA, August 10, 2006 -- Results from in-branch polling at Fidelity's four Michigan-area investor centers located in Ann Arbor, Birmingham, Novi and Southfield show that investment selection is the number one concern among investors seeking retirement guidance. More than half (56%) of the respondents said that understanding which investments may help them to meet their long-term retirement savings goals was the most pressing issue they face in planning for retirement.
Half of the participants expressed concern about the possibility of outliving their retirement savings. Over one-third (37%) indicated they are seeking guidance on whether they have enough savings to retire. The Michigan investor poll was conducted as part of a week long education seminar series designed to help investors' retirement savings efforts.
"While there has been a proliferation of tools to aid investors in determining how much money they will need in retirement, fewer resources are readily available to assist investors with actual investment selection when saving for retirement," said Cheryl Wilson, senior vice president and Midwest market manager, Fidelity Investments. "By working with our financial representatives, investors can better determine the most appropriate investment vehicles, periodically rebalance their portfolios, and help ensure they have the right allocation to meet their retirement goals."
The Fidelity survey also found that the biggest surprise among the majority (51%) of guidance seekers who attended the in-branch retirement seminars was that properly investing retirement assets is just as important as the amount of money that is saved for retirement. As a result, the majority of participants polled (69%) reported that the most important lesson learned at the seminars was remembering to make sure their savings are properly allocated and that they rebalance their portfolio regularly.
As a result of their participation in the Fidelity retirement seminars, investors outlined action steps they would take to move towards a more secure retirement savings plan. Actions included developing an income management plan, portfolio rebalancing, monitoring investment allocations and opening an IRA.
From July 10th-14th, Fidelity conducted a total of 36 seminars in its Michigan area investor centers as part of the firms' Retirement Readiness Week. Investors received free guidance on how to better prepare financially for retirement.
About Fidelity
Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $2.6 trillion, including managed assets of $1.3 trillion as of June 30, 2006. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 22 million individuals and institutions as well as through 5,500 financial intermediary firms. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.
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