In Business / July 2007
Saving by the Stars
Saving habits may come from parents, personal experience or genetic predisposition. Or, maybe such issues are decided by the stars. In their sixth-annual “Retirement Reality Check” survey, Allstate compared respondent’s common personality traits to their Zodiac signs. Over 1,600 people between 28-60 and with household incomes of $35,000 or more were polled. Allstate compared Zodiac personality descriptions with their findings from the survey.
The light hearted astrological analysis shows everyone has personality strengths and weaknesses that may shape saving tendencies.
Inventive and enthusiastic, 80 per cent of Aries (March 21-April 19) say they’re educated about investing, though they aren’t good savers, and 12 percent admit they’re not saving at all for retirement. They’re least likely to have saved money for their children’s education and only 8 per cent have paid off their home. Aries should apply their enthusiasm and mental strength to devising a workable plan to achieve long-term financial goals.
Passionate and determined, 97 per cent of those born under Taurus (April 20-May 20) described themselves as disciplined. Only 1 percent say they’re not saving for retirement. Only 20 per cent think they’ll have to support other family members after they retire. Taurans demonstrate that worrying doesn’t stop practical action.
Mercurial Geminis (May 21-June 20) aren’t optimistic, probably because they’re least likely to have educated themselves about investing. But, they consider themselves good savers and 88 per cent say they stick to a budget. A budget is a good start to any financial plan, but Geminis should put their creativity to task and find other ways to achieve long-term savings goals.
Patient, nurturing Cancers (June 21-July 22) are concerned about the future and current finances. They’re least likely to worry about retirement being boring (4 percent) but also least likely to have three months of emergency funds. Cancers should understand their feelings about retirement and be clear about their goals and expectations. Making financial plans with a partner means talking frankly, even if means a little conflict.
Leos (July 23–Aug 22) are undisciplined but optimistic. They don’t like to wait for the things they want and 98 per cent expect retirement to be fun. Still, 86 percent worry about finances in retirement, especially health care. Their best approach is to write down what they want so they’ll have have a practical goal to work toward.
Perfectly organized Virgos (Aug 23–Sept 22) are most likely to call themselves financially independent. Less than 30 per cent expect retirement to be financially difficult. Virgo’s prove planning can lead to practical steps and peace of mind.
Intellectual and charming, only 71 per cent of Libras (Sept 23–Oct 22) tend to stick to a budget. But, they don’t worry retirement will be lonely, perhaps since more than a third expect to provide financial support for other family members after retiring. Libras exemplify hindered goals; it’s difficult to save effectively while addressing other people’s financial goals.
Stubborn, emotional Scorpios (Oct 23–Nov 21) are inconsistent. Only half pay off their credit cards monthly but 90 per cent balance their checkbook regularly. Most don’t expect retirement to be relaxing and half expect it to be financially difficult. Most think they’ll work for pay after retirement. Their emotional strength provides a huge advantage in saving because they have the discipline to achieve their goals. Their first step is making financially sound retirement a top goal.
Honest, independent Sagittarians (Nov 22–Dec 21) have mixed feelings. They’re most likely to pay off monthly credit cards but least likely to regularly balance their checkbook. Almost all anticipate a fulfilling retirement, but only a fourth have done retirement planning separate from their partner. Sagittarians should remember independent financial planning doesn’t mean ignoring a partner.
Anyone, through death or divorce may end up alone in retirement.
Structured, hard working Capricorns (Dec 22-Jan 19) have clear rules and high goals and are most concerned about the future. They’re most likely (26 per cent) to have bought long-term-care insurance. Their hard work and high goals are an excellent combination for retirement planning.
Dependable, imaginative Aquarians (Jan 20 - Feb 18) worry least about current or retirement finances. Over half don’t expect to work for pay after retiring. Aquarians should consider secure financial retirement a matter of principle, critical to their independence, for the impetus to a practical savings plan.
Generous, compassionate Pisces (Feb 19-Mar 20) are least likely to consider themselves financially independent but a third consider themselves “very prepared” financially. Over 40 per cent have done retirement planning separate from their spouse or partner. Pisces should decide what they want out of retirement to determine if they’re on the right saving track.
For more information, visit allstate.com
Copyright © 2007 A Woman's View. All rights reserved.
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