Press Release
Americans Believe Professional Investment Advice Is Essential To Live Comfortably in Retirement
82 percent of Americans who received advice rate it as good or excellent
ATLANTA, GA, August 29, 2002 -- Many Americans (52 percent) believe investment advice is necessary to realize their retirement dreams, according to a survey released today by ING, a leading provider of retirement products and employee benefits services. According to Lou Bachetti, ING’s head of defined contribution field sales, most investment experts say a defined contribution plan, such as a 401k, continues to be a good investment option despite current market volatility.
"Diversification over the long haul provides investors the best chance for a successful 401k" he said. "If investors spread their dollars around, they are likely to be less affected by losses in any one investment. There is a investment principle that most advisors adhere to: Diversification is good common sense for all shapes and sizes of investors."
In addition, of the survey respondents who have received professional investment advice, 82 percent rate the quality of the advice as "good" or "excellent".
"Good financial assistance can go a long way in helping people reach their retirement goals," said Bachetti. "A financial professional can help investors understand all of their investment options, including 401ks."
Bachetti also said investors should develop an asset allocation strategy to diversify their options. "Financial professionals can help investors develop their own strategies that suit personal circumstances and investment temperaments," he said.
About ING
ING’s U.S. financial services operations (www.ing-usa.com) offer a comprehensive array of products and services, including life insurance; fixed and variable annuities; retirement programs; employee benefits; and mutual funds, through a variety of distribution channels and companies. ING U.S. Financial Services is part of Amsterdam-based ING Groep N.V., one of the largest integrated financial services organizations in the world.
About the Survey
ING commissioned Washington, D.C.-based KRC Research to conduct a nationwide survey of 800 employed or retired individuals age 30 and above. The survey was conducted in June 2002, and has a margin of error of plus or minus 3.5 percentage points at the 95 percent confidence level.
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