The majority of working Americans, regardless of generation, feel they have competing financial priorities that impact their ability to save for retirement, according to ING Retirement Research Institute’s recent study, “Retirement across the Ages.”
The study found that 83 percent of Generation Y, 75 percent of Generation X and two-thirds of Baby Boomers are at risk of having an underfunded retirement. The data suggests that while each generation faces its own challenges, the need to increase retirement readiness spans all generations, the report found.
To support this growing need, ING U.S.’s Retirement business is launching a multimedia customer education campaign to coincide with National Save for Retirement Week, which runs Oct. 21-27, 2012. The theme of the campaign is “Get in the Game,” and it uses a game board illustrating the steps that can be taken in retirement planning to engage and motivate individuals of all ages about the importance of a well-thought-out path for the future.
ING hopes to generate interest among non-participants about the potential of their employer-sponsored plan; encourage active participants to evaluate their current savings strategy and make positive changes within their account; motivate employees to work with a financial professional and leverage the valuable guidance they can offer; and drive individuals to utilize helpful online, personalized tools that can inform, engage and inspire positive savings action.