These recently-divorced respondents are also more concerned than their peers about having sufficient separate funds earmarked for their children’s inheritance. Single Women are more wor- ried than their peers (38% vs. 27% of Blended Families and 23% of Tradi- tional Families) that they will not have a set level of monthly income that lasts throughout their retirement. Many single female respondents, for instance, share the sentiment, “Be- cause I am a widow, I do not have the buffer of a second income; it all falls on me.” A large number of Single Women respondents believe that the retirement savings imperative is higher for them than it is for those who are married. Despite this, Single Women are actually much less likely to own many common traditional savings or income products. The study also shows that some retirement issues transcend family struc- ture. Healthcare is a critical issue for all. Roughly two-thirds (63%) of Traditional Families do not expect to have enough money to cover healthcare costs in retire- ment, as is the case with 69% of Single Women and 66% of Blended Families. Of the entire group surveyed, almost half (47%) identify a need for more savings and assets; 29% would like a better gauge of both their routine and unpredictable retirement expenses. Retirement income and healthcare
are two universal concerns for pre-retir- ees. The challenge for those in middle age is to make the unpredictable elements in their lives – the current and future needs of their children, the assets or income that go to an ex-spouse, their own healthcare and other costs – more manageable. More security with regard to income and assets would be of great help to them as they transition into retirement. Complex family structures add an
extra level of unpredictability to retire- ment planning, and today’s middle- aged Americans are seeking ways to make their income last a lifetime and tools to support their goals. They are looking for professional planning and financial products for “families like theirs,” not just generic advice. For additional information on the
tools MetLife can provide to ensure that retirees from every kind of family structure
can safeguard their retirement savings, or to view more on the MetLife Family Mat- ters Study, please visit www.eileencioe.
metlife.com or contact Financial Services Representative and Financial Planner Eileen Cioe, CFP®, CFS®, CLTC.
Eileen offers fee-based financial
planning services through MetLife Securi- ties, Inc.,(MSI) a registered investment adviser, New York, NY 10166. She focuses on meeting the financial needs of individu-
als and business owners. You can reach Eileen at the office at 5900 N. Andrews Avenue, Suite 900, Ft. Lauderdale, FL 33309, 954.331.5112. Metropolitan Life Insurance Company (MLIC), New York, NY 10166 . Securities, and investment advisory services offered through MetLife Securi- ties, Inc. (MSI)(member FINRA/SIPC), a registered investment advisor. MLIC and MSI are MetLife companies. This article was prepared by MetLife, Inc.
natural awakenings December 2011 49
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