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Poll: What Seniors Want to Supplement Their Social Security Income
A Wells Fargo/Gallup poll conducted in November concluded that U.S. investors “strongly agree that it’s important to have a guaranteed income stream in retirement to supplement Social Security.” Coincidentally, the poll also indicated that only about a quarter of those surveyed would be willing to give up access to their money to ensure that guarantee, while half prefer to spend their reserves as they see fit, event if it means they’d run out of money. This sounds like a dichotomy, but it really isn’t. It points to the need for future retirees to focus their investments on financial instruments that can compensate for the declining availability of defined benefit plans (i.e., pensions) to shore up the gap between their Social Security benefits and their projected spending in retirement. Read an analysis of the poll results, posted on news.gallup.com, here…