55+ workers flip retirement savings strategy

More than three-quarters (76%) of workers 55 and older say the last few years have provided them with a much-needed financial wake-up call.

As a result, 84% said they now exercise a more cautious investment strategy, according to a recent Harris Interactive telephone survey of more than 1,000 over-55 U.S. workers age.

Retirement plan changes

What are workers now looking for from their retirement plans? Almost two-thirds (65%) said they want investments that are almost guaranteed not to lose value — like CD’s or annuities.

The survey data revealed that protecting assets is now five times more important to older workers than investing aggressively, and 60% are looking to protect their income from market losses.

And that’s not all: 80% say they want education and advice on saving and investing from their employer.

Retirement now means less work

Other findings:

• Older workers intend to delay retirement — from 64 to 69, and
• Two-thirds say they’d like to keep working at least part time after they retire.