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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. 

Despite the state’s growing economy, stable budget and nearly full employment, Portland millennials already have concerns about retirement, according to the 2016 Investor Mindset Report, a study conducted by Thrivent Mutual Funds.

Our infographic illustrates key survey findings from Portland.

Highlights from Thrivent Mutual Funds’ Portland survey reveal that: 

  • Portland millennials are more concerned about not being able to retire than baby boomers.
  • As a whole, Portland residents’ greatest fear as it relates to retirement is running out of money, followed by the rising cost of health care.
  • While only 18 percent of Portland residents say the increasing cost of health care is their biggest fear, 27 percent of baby boomers responded that health care costs frighten them.
  • In Portland, 82 percent of women surveyed and 78 percent of millennials surveyed believe they are not more knowledgeable than the average investor.
  • As for leveraging technology, 82 percent of men, 78 percent of Gen Xers, and 77 percent of millennials are comfortable using online tools to select and manage investments.

 

Biggest Fear as it Relates to Retirement

Portland Survey - Investor Mindset - Biggest Fear as it Relates to Retirement

Read the Investor Mindset Report Executive Summary for more insights

View Report

“Taking into consideration Portland’s current economic climate, one might assume millennials feel as though the wind is at their backs. However, we know that when it comes to retirement, a good investment strategy not only considers where you are today, but also where you want to be later in life. It’s never too early to start saving and thinking about your retirement plan. If your employer has a company match program, you should most definitely take advantage of it to get your retirement program started with a little extra help from your employer.”

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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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.