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Increased level of retirement planning leaving many Americans with positive outlook

07/29/11


As the number of Americans taking an active role in their retirement planning has increased year-over-year, a growing number of individuals are feeling confident about their future financial solvency.

A study conducted by The Hartford has found that 34 percent of respondents felt extremely or very confident that their lives would improve over the next 12 months. This may truly be a sign that the American economy and community are finally feeling as though the dark days of the past several years are behind them.

Fifty-three percent of respondents wanted to reduce their debt, while increasing savings. Investing in an annuity or whole life insurance plan may help Americans develop additional income to collect once they reach retirement. More than half of those surveyed thought that their finances would improve during the next year.

"Americans are known for their optimism and that is being reflected in their increasing participation in retirement plans, even as the economy continues to struggle," said E. Thomas Foster Jr., vice president for The Hartford's Retirement Plans Group.

Employees also increased their level of participation in company 401(k) plans, possibly showing an increased financial focus on the future.  

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