Surveying 500 Iowa adult residents (53 percent female and 47 percent male), the survey found that well over one-fourth (37 percent) of Iowans have less than
"Every Iowan, regardless of income, race, or background, should be afforded the ability to live comfortably in their retirement years," said
Other notable findings from the statewide survey include:
- Thirty-nine percent of Iowans are planning to live off of
Social Securityin retirement.
- Over half (51 percent) of Iowans are currently carrying credit card debt.
- Twenty-four percent of respondents said they do not have enough money to save or invest in their retirement.
- Fifty-one percent of Iowans said they did none of the following when using a financial professional: verified they are licensed to do business in
Iowa, checked to see if the investment products they are selling are registered in the State of Iowa, contacted the Iowa Insurance Division, or background-checked the financial professional through FINRA'sBrokerCheck.
- When asked to provide the most accurate statement that describes retirement planning, the most common answer among white respondents (44 percent) was "I have a financial plan in place and am following it," while most common answer among African Americans (36 percent) was "I have not started."
"Whether you're 25 or 65, it's never too late to start planning for retirement. Working with a licensed financial professional can help consumers build retirement plans that fit their needs and risk tolerance," said Iowa Insurance Commissioner
In response to the survey results, the Iowa Insurance Division will join AFCPE®, along with AARP Iowa, Detroit Public Television and the
The program is designed to bring together financial professionals, government officials, community-based organizations and consumers to ensure Iowans have the education, tools, and resources to plan for a secure future. "Making Cent$ of Retirement: An Investor Education & Protection Event" is free to the public. To register for the event, and to view full results of the survey, visit wi65.org/Iowa.
AFCPE® ensures the highest integrity of the financial counseling profession by certifying, connecting and supporting diverse professionals. Our comprehensive certification programs represent the gold standard for financial counseling, coaching, and education, including the AFC® (Accredited Financial Counselor®) certification which is accredited by NCCA and nationally recognized by
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