Younger Baby Boomers are turning toward guaranteed retirement income rather than risk their financial futures on the stock market.
A new survey by Allianz Life Insurance Company of North America found that 87 percent of transition Boomers surveyed were more attracted to financial products with a guaranteed 4 percent return rather than a product with 8 percent return but a strong possibility of losing value due to market downturns.
Women, individuals with children or with household incomes under $50,000 felt the most strongly about the question. But despite this interest in guarantees, only 25 percent of those interviewed said they currently own an annuity.
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