BlackRock (BLK) released a new survey that shows that investors are more worried about managing a longer retirement than they are about their specific investments. Longevity is creating a “systemic crisis” according to the Chairman and CEO of BlackRock, Laurence Fink. He is calling on our government and business leaders to make longevity a national priority.
In BLK’s survey questioned 451 investors and more than half of them said they would not be focusing on what bond investments would be right for them next year. The most telling statistics were that an overwhelming majority of those polled agreed that keeping their money safe was more important than return generation. Over half also admitted to worrying about outliving their savings.
Americans are generally unprepared for the longevity crisis and the BLK survey confirmed that fear. 62% of those surveyed were concerned about not having enough income from their current investments to live comfortably in retirement.