Half of Baby Boomers Have Neglected Their Retirement Plans, Survey Shows

Half of baby boomers age 45 and older have neglected their retirement plan, according to a national survey commissioned by SunAmerica, The Retirement Specialist. The survey reveals that while most Americans have started to make investments, they haven't paid nearly enough attention to retirement planning.

SunAmerica used Opinion Research Corporation's CARAVAN Survey to poll a random selection of more than 1,000 adults nationwide. The survey also found:

-- Nearly 40 percent (39 percent) believe their retirement plan is not safe

-- More than 40 percent (41 percent) believe their retirement plan is not working hard enough to achieve their goals

SunAmerica's additional proprietary market research revealed that while the economic boom of the 1990s popularized "do-it-yourself" investing, the recent economic downturn has reduced investors' confidence in their own ability to make sound financial decisions and effectively plan for their financial future.

"After watching the value of their investments and 401(k)s go down, people are wondering whether or not they really can do it themselves," said Jana Waring Greer, president, SunAmerica Retirement Markets, Inc. and Chief Marketing Officer, SunAmerica Inc. "In many cases, they're simply crossing their fingers and hoping they're doing enough. We want them to know that asking a financial advisor for professional investment advice can help."

While many financial services firms have responded to shaky investor confidence and market volatility by taking a somber tone in their advertising, SunAmerica is bucking this trend by stepping up the pace with a bold new advertising campaign designed to "bring to life" the relationship between baby boomers and their retirement plans.

Tapping ad agency Deutsch LA's hot creative talent, the SunAmerica commercials feature a couple going about daily life accompanied by "RETIREMENT", an engaging character sporting a red T-shirt bearing his name.

Launching tonight in Game One of the NBA Championships, the campaign cleverly drives home the message that the need to protect your retirement plan never goes away.