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Thrivent Mutual Funds’ 2016 Investor Mindset Report is a national study, which focuses on understanding investors’ financial priorities, and provides insights based on location, generation and gender. 

More than half of Milwaukee residents are uncertain how much money they’ll need in retirement. More specifically, half of the respondents think they have a good grasp on how much money they’ll need to maintain their lifestyle in retirement, but are not entirely confident with their estimates, according to the 2016 Investor Mindset Report. Based on gender, men are more confident than women that they have a good grasp on how much money will be needed in retirement.

Our infographic illustrates key survey findings from Milwaukee.

Highlights from Thrivent Mutual Funds’ Milwaukee survey also reveal that: 

  • Less than half of Milwaukee residents surveyed are optimistic towards the U.S. economy and the impact on their financial situation.
    • Men are more optimistic than women, and baby boomers are more likely than millennials to be very concerned.
  • Milwaukee residents’ biggest fear related to retirement is running out of money.
  • Millennials (20 percent) and Gen Xers (17 percent) are also concerned about not being able to retire at all.  

 

Optimism Towards U.S. Economy & Impact on Financial Situation

Milwaukee Survey - Investor Mindset - Financial Optimism

Read the Investor Mindset Report Executive Summary for more insights

View Report

“People work hard and it’s important that they have a plan in place to live comfortably and retire with confidence. With life expectancy increasing, it’s important to consider financial retirement needs sooner. Fortunately, there are many different strategies and convenient online resources available to assist with individuals’ unique time horizons and retirement goals.” 

David Royal, president, thrivent mutual funds

David Royal, President, Thrivent Mutual Funds


Further tips from Thrivent Mutual Funds to help manage retirement goals include:

  • Identify your retirement goals and develop an investment strategy.
  • Pay yourself first (15 percent target of pre-tax dollars is a good rule of thumb, and use direct deposit so you never see and spend it).
  • Maximize your employer’s 401K match to generate additional savings. Older investors can take advantage of a government catch-up provision that allows for workers 50 and older, to defer an additional $6,000 per year.
  • Know what investment options are available to you.
    • Asset allocation funds are a group of all-in-one funds with diversified portfolios of stocks and bonds. These funds are all about long-term growth within your risk tolerance (from aggressive to moderately conservative). They’re a great option to consider to grow assets for retirement, education, a down payment on a house, or many other financial goals.

 

 

Read The Executive Summary Report

View Report
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Be sure to check your inbox for the Investing Insights newsletter to get the latest news and insights from Thrivent Mutual Funds.

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Looks like you're already on our mailing list. Be sure to check your inbox for the Investing Insights newsletter to get the latest news and insights from Thrivent Mutual Funds.

This article is not intended as a source for tax advice. Work with your tax professional for additional information.

The concepts in this article are intended for educational purposes only and are not intended to recommend any particular strategy.

About the Study: ORC International, a global business intelligence company, conducted the Thrivent Mutual Funds survey among 3,400 respondents ages 25-64. Invitations to participate in the study were sent on July 27, 2016, and data collection continued through August 7, 2016. For more information about this study, please visit www.ThriventFunds.com.