Metlife Mature Market Institute: Tips For Retirement Planners

A Free Guide for Everyone from the Snoozers to the Wood Knockers to the Preemptive Planners

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WESTPORT, Conn.–(BUSINESS WIRE)– As a follow up to its study, Best-Case Strategies for a Flexible Retirement, which classified the various types of retirement planners — Snoozers, Active Resisters, Immobilized Worriers, Oversleepers, Wood Knockers, Plan B-ers, Stewers and Brewers, Compromisers and Preemptive Planners — the MetLife Mature Market Institutehas released a free consumer guide, The MetLife Tips for Types Workbook.

Through a series of questions and answers, the publication will help Americans identify their own type and guide them through the planning stages, especially the important first steps to a happy and financially sound retirement.

“People will easily recognize themselves through the questions we pose, but they shouldn’t be dismayed by the categorizations,” said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute.

“This guide will help just about everyone move forward in pursuit of a comfortable retirement from wherever they are in life and within the parameters of whatever ‘type’ they happen to be. Even the best planners are hit with surprises, the unexpected life trigger events that can derail the most carefully laid plans.”

Kathryn B. McGrew, Ph.D., research fellow at the Scripps Gerontology Center at Miami University, which co-produced the original study, said, “The message is that procrastination and a fear of making plans are the most common stumbling blocks. Those who actually start the process will generally be the most successful. Having that first conversation with a spouse, partner, family member or financial planner can be enormously helpful to overcoming the anxiety that often accompanies creating and properly managing one’s plan.”

The questions posed to readers of the guide revolve around people’s views of the future, how they plan for the unexpected and their general household budget practices. Through the answers, individuals will be able to identify themselves as a planner type who belongs in one of three groups:

1. Waiting – Pathways open, but action not yet taken.

2. Willing – Plans made, but in a holding pattern; not much forward motion.

3. Working – Already embarked on a retirement pathway, tools in hand and in pretty good shape.

From there, they’ll receive more specific instructions. For the third group, the advice is to stay the course and track progress so necessary adjustments can be made. For the others, there is more specific advice on how to determine income and investment strategies, how to plan for the unexpected, gather information, do the math, seek advice and put a plan in motion.

The guide also contains real-life stories of individuals and couples at various stages in the retirement planning process to assist those who may recognize themselves and emulate the tips offered by the people profiled.

Finally, the publication offers direction for all types of retirement planners:

• Develop a Sense of Self-Reliance – An Acquirable Trait
• Think About the Future – All the Way to the End
• Anticipate or Expect the Unexpected
• Designate a Budget Column for Today and the Future
• Set and Live by Personal Financial Rules
• Stop, Sit Down and Focus on the Future – Talk About It
• Engage in the “What Ifs?”
• Put the Pencil to the Paper, or Cursor to the Screen; Do the Math, All of It
• Gather Information
• Seek Advice
• Start As Soon As Possible

The MetLife Tips for Types Workbook: Real-Life Strategies for the Retirement You Want and the study, Best-Case Strategies for a Flexible Retirement: The MetLife Study of Thinking About Retirement in Uncertain Times,can be downloaded from www.MatureMarketInstitute.com. The publications can also be ordered through Contact Us on the MetLife Mature Market Institute Web site, by writing to: MetLife Mature Market Institute, 57 Greens Farms Road, Westport, CT 06880 or by e-mailing MatureMarketInstitute@metlife.com.

Scripps Gerontology Center, Miami University

Scripps Gerontology Center is a research and training center with a broad research agenda including health, disability, and longevity; long-term care systems and services; workforce and retirement issues; caregiving; technology and aging; and demography. Applied research is conducted for policy makers, public administrators, planners, service providers, academics, and the general public. www.scripps.muohio.edu

The MetLife Mature Market Institute®

The MetLife Mature Market Institute is MetLife’s center of expertise in aging, longevity and the generations and is a recognized thought leader by business, the media, opinion leaders and the public. The Institute’s groundbreaking research, insights, strategic partnerships and consumer education expand the knowledge and choices for those in, approaching or working with the mature market.

The Institute supports MetLife’s long-standing commitment to identifying emerging issues and innovative solutions for the challenges of life. MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, please visit: www.MatureMarketInstitute.com.

DJC Communications Debra Caruso, 212-907-0051
or
MetLife Shalana Morris, 212-578-1115

Source: MetLife, Inc.