July 31, 2012

Guaranteed Income Appeals to Younger Generations

Eighty-seven percent of American workers of all ages say they find it “very” or “some-what” appealing to be able to turn at least a portion of their retirement savings into a guaranteed income, according to The Hartford’s Guaranteed Retirement Income study.

Reported by Rebecca Moore

Ninety-five percent of workers younger than 30 say the same, as do 90% of respondents aged 30 to 39; 89% of those aged 40 to 49; 88% of those aged 50 to 59; and 77% of those aged 60 and older. The concept of guaranteed retirement income appeals most to those with a combined annual household income of $50,000 to $74,000.