Americans Worry about Empty Nest Egg
May 13, 2008 (Des Moines, IA) — While some Americans worry about having an empty nest, a growing number are losing sleep over having an empty nest egg. More than 30-percent of American workers say the fear of outliving their savings is keeping them up at night1.
They aren't alone. The Principal Financial Group® and other retirement industry leaders are meeting in Washington, DC May 14, 2008 to discuss ways Americans can turn their nest eggs into an income for life.
Renee Schaaf, vice president, Retirement and Investor Services at the Principal Financial Group, will join other industry experts in discussing Completing the Retirement Equation: Making Savings Last a Lifetime.
"It's easy to understand why Americans are worried. They have taken on more and more of the responsibility for saving for retirement. They also have the responsibility for managing that savings so it lasts as long as they do," said Schaaf. "That's a much more complicated task. They need simple tools and plenty of education. This conference brings together some of the best minds in the country. Together, we can help Americans achieve and maintain retirement security."
Schaaf will provide insight into the current retirement landscape. She will describe the behaviors and attitudes of American workers and retirees based on data from The Principal Financial Well Being IndexSM and other research conducted by The Principal®. The index surveys retired Americans and American workers at growing businesses with 10 to 1,000 employees. Harris Interactive®2 conducts the survey and the Principal Financial Group releases it each quarter.
The conference is sponsored by Divided We Fail.org: AARP, Business Roundtable, National Federation of Independent Business (NFIB) and Service Employee International Union (SEIU).
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)3 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $304.2 billion in assets under management4 and serves some 18.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
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1) The Principal Financial Well Being Index Third Quarter 2007
2) Harris Interactive is not an affiliate of any member company of the Principal Financial Group
3) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
4) As of March 31, 2008
