F&G Finds Nearly Three in Four American Investors Steering Clear of Risks Since COVID-19
DES MOINES, Iowa, Oct. 27, 2020 /PRNewswire/ -- A new study from F&G, a leading provider of fixed indexed annuities and life insurance, found that
The survey also found a rise in retirement income worries, with
"It's clear that the global pandemic, coupled with financial and social volatility, has had a significant impact on how American investors view risk personally and financially," said Chris Blunt, CEO of F&G. "Rising levels of financial worries among American investors underscore the security and peace of mind that insurance products can provide through retirement, yet many American investors are not taking advantage of them."
COVID Induced Risk Aversion by Gender and Generation
The survey found that recent events have altered how American investors view risk-taking in their lives and finances – especially among women and millennials.
Interestingly, risk aversion diverged across gender lines, especially regarding financial risk. For example, women reported a more risk-averse approach to investing in comparison to men.
- Two in five women (
41% ) indicated that they pursue only cautious/highly conservative investment strategies, in contrast to only22% of men. - In addition,
37% of men said that they have shifted their asset allocations to be more aggressive during this time, compared with only27% of women.
Generational worries about monetary security and losing their financial safety nets have emerged since COVID-19. For instance, when asked whether they feel like their financial safety nets have been taken away as a result of COVID-19, the following percentages agreed:
61% of millennials56% of Gen X44% of baby boomers
One-third of respondents (
While each individual's appetite for risk is different, before embarking on any financial strategies, a financial or insurance professional can help weigh the pros and cons based on a person and family's individual circumstances.
"While American investors are feeling financially uncertain amid the pandemic, their appetite for new financial products has risen," said Blunt. "The findings of this survey underscore the importance of using a financial professional who can help you build a holistic plan that includes income guarantees like annuities. Unlike any other financial vehicles, annuities can provide income that you cannot outlive, yet only
For more information on F&G's Risk Tolerance Tracker, please visit success.fglife.com/risktolerancetracker.
Survey Methodology
This CARAVAN survey was conducted by ENGINE INSIGHTS among a sample of 1,463 adults 30 years of age and older. This survey was live on September 16-23, 2020. Completed interviews are weighted by five variables: age, sex, geographic region, race and education to ensure reliable and accurate representation of the total U.S. population, 18 years of age and older.
About F&G
F&G is part of the FNF family of companies. F&G is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of annuity and life insurance products and is headquartered in Des Moines, Iowa. For more information, please visit www.fglife.com.
Media Contact
Gabrielle Simon
pro-F&G@prosek.com
413.695.3818
1To qualify for the survey, respondents had to have sole or shared financial decision-making responsibility for their household and own financial products valued at
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SOURCE Fidelity & Guaranty Life