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Getting real about retirement

A study by Allianz Global Investors reveals that investors are brushing off key lessons learned from the financial and economic crisis

© Getty Images/Keith Ringland

Getting real about retirement

A study by Allianz Global Investors reveals that investors are brushing off key lessons learned from the financial and economic crisis

Cockeyed optimists

Perhaps the most surprising result of Allianz Global Investors’ research is the indefatigable optimism of American investors. Despite losing an average of 30% of their retirement savings they remain bullish. Some 80% believe they will have the money they need for retirement and 72% predict a similar crisis in the next five years, while 60% think the market dislocation is a temporary downturn and things will improve long term.

It’s an optimism most advisors don’t share. Tremendous damage has been done, which has set retirement savings further back than most Americans realize. The good news is that investors are open to learning more about retirement planning and are looking to financial advisors for help. Says Eric Sutherland, head of advisory distribution for Allianz Global Investors Distributors, “We believe that there is a historic opportunity now – and for years to come – for advisors to focus their clients on a more realistic retirement vision and a more practical path to achieve it.”

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