This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ING U.S. Study Sheds Light On Peer Comparison And The Retirement 'State Of Savings' In America

WINDSOR, Conn., Dec. 5, 2012 /PRNewswire/ -- According to new research 1 from the ING Retirement Research Institute, more than half ( 52%) of the respondents in an ING U.S. consumer survey said they would be motivated to save more for retirement if their nest eggs didn't measure up to those of their peers.  Additionally, better than one-quarter ( 27%) confirmed that the size of their retirement account was an important attribute for benchmarking themselves against others—more significant than their material possessions ( 17%) and salary ( 16%).

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/54457-ing-retirement-research-institute-study-peer-comparison-and-savings-levels 

(Photo: http://photos.prnewswire.com/prnh/20121205/MM23232 )

The urge to compare didn't stop in their golden years, either.  Study results showed that nearly two-out-of-ten people ( 19%) already in retirement still want to "keep up with the Joneses" when it comes to their quality of life and financial independence.

These findings support a growing trend noted by ING U.S. over the past three years through its pioneering, web-based peer comparison tool, INGCompareMe.com.  The tool, available to the public at no cost, allows users to compare themselves to others on a wide range of saving, spending, investing, debt and personal finance matters.  Users create an anonymous profile by entering some basic information.  They can also select categories such as hobbies, interests and where they live to align even more closely with their peer set.

"From restaurant reviews to healthcare referrals, consumers are increasingly scanning the social landscape for peer information and validation," noted Patrick Kennedy, chief marketing officer for ING U.S. Retirement.  "This is also true for personal finance matters, such as saving for retirement.  People are curious to know how they stack up to their counterparts, and a tool like INGCompareMe.com can provide a helpful benchmark.  The data we collect can also be used to identify savings patterns and trends that support our broader goal of helping Americans retire in the manner they expect and deserve."

Since debuting in 2009, the INGCompareMe.com site has received over 1.8 million visitors.  Approximately 60,000 users answered a combination of questions that captured their state of residence, their annual household income, the amount they've saved for retirement and the amount they anticipate needing to live a comfortable retirement.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs