Unexpected health care costs, inflation and running out of money can quickly deplete funds saved for retirement or the next generation. These concerns are very much on the minds of Americans of late.
According to a new study from Lincoln Financial Group, "Measuring Optimism, Outlook and Direction (M.O.O.D.) of America," nearly 6 in 10 Americans say that protecting their wealth is more important today than it was five years ago.
The report is the third in a series of Lincoln Financial studies that gauges American's financial attitudes and behaviors. Conducted by Whitman Insight Strategies, the current survey polled 2,352 U.S. adults ages 18 years of age and older.
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"Americans are more aware today of the need to protect their wealth," said Will Fuller, president of Lincoln Financial Group Distribution. "Financial professionals play a critical role in educating clients on different options and approaches to achieve the outcomes they want.
Nearly all of the survey respondents (97 percent) flag running out of money as a top concern in respect to protecting their wealth. Close to 9 in 10 respondents also identify future health care expenses (89 percent) and the impact of inflation (88 percent).
Despite their heightened awareness, only 15 percent of the survey respondents say they're "very prepared" to protect their wealth. The level of preparedness is, not surprisingly, higher among Americans who work with a financial professional: These folks are 12 to 15 points more likely to flag as important the protection of wealth against health care costs and inflation, the minimizing of taxes, and reducing the impact of market volatility.
"The results of this survey demonstrate that clients' most pressing financial challenges and opportunities are changing," says Rich Aneser, chief marketing officer of Lincoln Financial Group Distribution. "For advisors, this highlights an opportunity to offer their clients a new approach to advice, one that is focused not only on accumulating wealth, but also on protecting assets and helping secure outcomes."
Want to know more? Next is an infographic recapping key findings from the M.O.O.D. survey.
Click to enlarge.
![3 top wealth protection concerns [Infographic]](http://media.benefitspro.com/benefitspro/article/2014/09/25/09-24-14-news-life-lfg-infographic35.jpg "3 top wealth protection concerns [Infographic]")
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