Goal-Setting Builds Confident Retirement Planning National Underwriter (Life and Health Financial Services Edition) (10/24/02) Vol. 133, No. 15 p.45; Lim, Paul J.
The American Express 2002 Participant Satisfaction Survey indicates that participants who have set retirement fund goals are 146 percent more likely to be confident about their attempts to financially prepare for retirement than those who have not set goals. According to American Express Retirement Services Senior Vice President of Client Services John Baker, "setting a goal helps reinforce the long-term nature of 401(k) investing, the benefits of dollar-cost-averaging, and asset allocation over a long period of time." Moreover, the survey suggests that 85 percent of participants are interested in receiving nonretirement products through their employers, up from 65 percent in 2001.