Rick Hart is your representative from Thrivent Financial for Lutherans

        SIMPLY GIVING is a program offered by Thrivent Financial for Lutherans to give their financial gifts through electronic funds transfer (EFT) to help their congregation’s ministries.  Applications and more information are available in the gathering area.

Boomers facing an uncertain retirement reality

As the baby boomers take their place as the next wave of retirees, a cloud of uncertainty hangs over their approaching golden years. Although America’s largest generation is optimistic – with more than half anticipating a retirement similar to or better than their parents - the future still holds more questions than answers about their actual retirement readiness. Gen X should take note, too.

According to a recent survey conducted by Thrivent Financial for Lutherans, 71 percent of baby boomers feel that a lack of money in retirement may prevent their future plans. Additionally, nearly a quarter of baby boomers have not begun saving for retirement and 59 percent have neither gone through a formal retirement planning process nor done serious calculations on their own. That may be why, when asked what advice they would give younger generations, a whopping 86 percent said, “start saving as soon as possible.”

While the numbers create complex questions about retirement, the answer for baby boomers, and even Generation X, is simple – just start saving. Baby boomers will be more active, live longer and spend more money in retirement on everything from health care costs to travel than previous generations. That said, they will also need to invest more money into retirement than their parents and grandparents. So the sooner they start, the better. 

Two large hurdles pre-retirees face are the complexities associated with retirement planning and the sense that it’s too late to save enough to really make a difference. To help break these barriers, financial institutions have taken steps to raise baby boomers’ retirement confidence and savvy. For example, Thrivent Financial offers seminars and online tools specifically designed to help outline the steps needed to help pre-retirees prepare for retirement.

A simple solution to get pre-retirees on track is investing in asset allocation funds. These funds set savings on auto-pilot, putting the worry of allocating resources into the hands of investment professionals. For baby boomers and Gen Xers, they take the complexity out of investing for retirement.

Thrivent Financial offers four funds that are designed to match investor’s risk tolerance with the appropriate investment mix. Ranging from aggressive allocation to moderately conservative allocation, the funds are comprised of a percentage of stock funds and bond funds, depending on the investor’s objectives and risk tolerance. The Thrivent Investment Strategy Committee actively reviews the allocations quarterly and may revise them based on changing market and economic conditions.

When nearly a quarter of baby boomers say they have not yet begun saving for retirement and most are regretting not saving enough, the message is clear: Retirement planning should be met with urgency whether you’re 35 or 65 years old. Sound preparation, identifying individual planning goals and outlining a path to reach those goals will help make one’s golden years as stress-free as they should be.

Investing in a mutual fund involves risks, including the possible loss of principal. The prospectus contains more complete information on the investment objectives, risks, charges and expenses of the investment company which investors should read and consider carefully before investing. To obtain a prospectus contact a registered representative or visit www.thrivent.com.

Rick Hart, is a financial Associate with Thrivent Financial for Lutherans, a not-for-profit Fortune 500 financial services membership organization helping nearly 3 million members achieve their financial goals and give back to their communities. Hart can be reached at 248 896 0160.

Registered representative for securities offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN, 55415-1665, 1-800-THRIVENT (800-847-4836), a wholly owned subsidiary of Thrivent Financial for Lutherans. Member NASD. Member SIPC.