Data & Research December 21, 2011

Increase Retirement Savings on the List of New Year’s Resolutions

Most U.S. adults have at least one financial New Year's resolution. 
Reported by

When asked what their number one financial resolution would be for 2012, in a survey from CouponCabin.com, respondents listed: 

  • Accelerate paying off my debt, 
  • Be less wasteful when buying groceries, 
  • Buy store brands instead of name brands to save money, 
  • Try to get promoted, 
  • Get on track with making student loan payments, 
  • Save for a down payment on a house, 
  • Increase my retirement savings, 
  • Move to a more affordable apartment, 
  • Pay my credit card balance off each month, 
  • Plan shopping trips well to save gas and time, 
  • Cut back on unnecessary purchases of clothes, shoes and handbags, and 
  • Use more coupons when shopping. 

Thirty-seven percent of U.S. adults surveyed said they feel less financially secure than they did at the beginning of 2011, while 43% said they are neither more or less financially secure. More than one-in-five (21%) said when they look back at the start of 2011, they feel more financially secure this year.  

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Nearly four-in-10 (39%) respondents said they plan to overhaul their finances in 2012. When it comes to how they will do the overhauling, three-in-four (77%) said they plan to cut back on unnecessary expenses.   

In addition, they plan to: 

  • Cut back on “extras” (e.g., eating out, going to the movies) – 62%, 
  • Set a budget and stick to it – 54%, 
  • Use coupons – 54%, 
  • Plan payments to get out of debt – 40%, 
  • Make investments (e.g., stock market, mutual funds) – 21%, 
  • See a financial adviser – 8%, and 
  • Open a savings account – 7%. 

The survey was conducted online nationwide by Harris Interactive on behalf of CouponCabin.com from November 14-16, 2011, among 2,207 U.S. adults ages 18 and older. 

Deals & People December 20, 2011

MFS Hires DC Specialists

MFS Investment Management has hired Peter J. Barron and Murray A. Cleaner to the defined contribution investments (DCI) team as DCI specialists. 
Reported by

Barron and Cleaner will work with advisers and platform wholesalers to help position MFS portfolios in defined contribution plans and on retirement platforms. Barron is responsible for the Mid-Atlantic region and Cleaner will cover northern California and the Pacific Northwest.

Barron joins MFS from Cammack LaRhette Consulting, where he was vice president – retirement and was responsible for the firm’s New York consultant division and had joint management oversight of the firm’s asset management key accounts. He held several DC positions at AllianceBernstein Investments and NYLIM Retirement Plan Services in his 14-year career as well.

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Cleaner joins MFS after eight years with Fidelity Investments, where he most recently served as a senior vice president and retirement plan specialist. He also worked for Franklin Templeton Investments for 14 years and served as vice president, national sales manager of defined contribution sales.

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