Alliance Research: PRIP 2024
2024 PRIP Research Discovers Stunning Insights on Retirement Today
tHe 2024 Protected Retirement Income and Planning (PRIP) study examines the attitudes and behaviors toward retirement savings of Americans ages 61 to 65, known as Peak 65 consumers. PRIP is the only research of its kind that simultaneously surveys both consumers and financial advisors. Key Findings from the third chapter of the PRIP study highlight several critical gaps in how investors and financial professionals’ approach, communicate, and consider protected income and annuities in retirement planning conversations.
Chapter 1: Stunning findings about Peak 65
Half of Americans entering the peak 65 zone are already retired and claiming social security, while more than one quarter of them are financially supporting family members. The study uncovers a wide disparity in investable household assets and a seesaw of emotions about retirement and money. To learn more about the findings from the first installment of the Protected Retirement and Income Planning study, visit the links below:
Chapter 2: Situation dire for women in Retirement
New study highlights urgent financial risks for women entering peak retirement years. An alarming 51% of women in the Peak 65® Zone have less than $100,000 in assets. Among single women in this demographic, the number jumps to 67% who have less than $100,000 in assets for retirement. To learn more about the findings from the second installment of the Protected Retirement and Income Planning study, visit the links below:
Chapter 3: consumers confused by their financial planners
New study highlights key gaps in retirement planning conversations between financial professionals and their clients. Findings reveal critical misunderstandings on protected income, annuities, long-term care, and awareness on social security. To learn more about the findings from the third installment of the Protected Retirement and Income Planning study, visit the links below:
Chapter 4: Retirees anxious about spending retirement savings
Nearly half of America’s retirees (46%) say spending their savings creates anxiety and is having an emotional toll on them and nearly a third (32%) are spending money faster than they expected. To learn more about the findings from the last installment of the Protected Retirement and Income Planning 2024 study, visit the links below:
ABOUT THE SURVEY
The 2,516 consumers surveyed are aged 45 to 75, of which 567 are investors aged 45 to 72 with $150k+ in investable assets and work with a financial professional. Data is weighted to align with the population on age, income by gender, race/Hispanic ethnicity, region, work and retirement status, assets, and education. From February 12 to March 4, 2024, PRIP 2024 also surveyed 508 financial professionals who conduct retirement planning for individual clients.