|[September 09, 2013]
Real People, Real Financial Problems, Real Financial Advice - As Easy As a Taxi Ride
DES MOINES, Iowa --(Business Wire)--
College grad with mounting debt? Buying a first dream home?
Or worried about the seemingly daunting retirement years?
Regardless of the financial need, the Principal Financial Group®
is helping people take action to make their financial dreams
come to life. Today The Principal® launched a new easy-to-use
online resource for consumers, business owners and financial advisors.
Center at principal.com
features several engaging, real-life stories (via video clips)
of everyday Americans grappling with financial dilemmas and looking for
help to reach their financial goals.
"The Principal is helping people take action on their financial dreams
by giving them a financial lift - literally," said Larry D. Zimpleman,
chairman, president and CEO. "What makes this effort resonate are the
powerful stories and solutions to real-life financial concerns with
expert, fast, simple help from financial professionals during a short
cab ride. The financial 'ah-ha' moments that come to life in the back of
a cab are eye-opening."
According to Mary O'Keefe, chief marketing officer at The Principal and
key architect of the campaign, the key to making financial headway is
helping people take action -- save, grow and protect their financial
nest-egg. "Our research and experience shows human nature can be a
common roadblock to financial success. Consequently, The Principal is
changing the conversation. Education and awareness are important. But at
the end of the day, not effective without action. The key is helping
business owners and consumers get a financial advisor. Then take
deliberate, simple, concrete steps toward financial goals, whatever they
Action speaks louder than words
A recent study from The Principal1 indicates that 74 percent
of Americans who use a financial professional believe they are making
good progress towards their long term financial goals, and 73 percent
said they are more financially confident since working with a financial
professional. In fact, the study shows American workers who use a
financia professional (54 percent) are more likely to say they are
extremely happy with their current financial well-being than those who
do not use a financial professional (29 percent).
Click, click, click!
The Principal's Planning
Center is at the center of the effort -- an easy-to-use online
center for people, business owners and financial advisors. Several
videos feature New Yorkers getting a free financial lift and financial
guidance from professional advisors and money maven Jean Chatzky. The
site also features calculators, worksheets, financial tips and other
tools to help guide people on the path to financial action. The Dreamcatcher,
an online social app, also is featured on the site. It helps people
visualize, organize and prioritize their financial dreams.
"Whether someone is just starting out in a new job or getting close to
retirement years, these financial roadmaps can help guide people to
their financial dreams," O'Keefe said. "The Planning Center makes it
easy to find
a financial professional. People can start putting their
financial plans into action and get needed guidance on complex financial
issues, regardless of what life has in store. At The Principal, we
fervently believe the future people want, is the someday they deserve."
In order to have enough income to support a financially secure
retirement, financial professionals believe, on average, clients need to
save 17 percent of their annual pay to have enough income during
retirement. However, this is subject to clients saving early on in their
career. Fifty-five percent of professionals indicate that no more than
one-in-four of their clients actually begin saving early enough
in their career to achieve the recommended level of retirement savings.
To help clients reach their retirement dreams early, more than half of
financial professionals surveyed (56 percent) have begun offering
financial education to their clients in the past year. American workers
who work with a financial professional are significantly more prepared
for a comfortable retirement (61 percent) than workers who do not use a
financial professional (29 percent), The Principal Well-Being Index
"By providing more financial education to clients, financial advisors
are really helping Americans better understand the importance of saving
early, saving enough, and allowing them to think of a comfortable
retirement as a realistic dream," O'Keefe said.
For more news and insights from The Principal, connect with us on
Twitter (News - Alert) at http://twitter.com/ThePrincipal.
About the Principal Financial Group
The Principal Financial
Group® (The Principal®)3 is a global
investment management leader offering retirement services, insurance
solutions and asset management. The Principal offers businesses,
individuals and institutional clients a wide range of financial products
and services, including retirement, asset management and insurance
through its diverse family of financial services companies. Founded in
1879 and a member of the FORTUNE 500®, the Principal
Financial Group has $450.6 billion in assets under management4
and serves some 19.8 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange under the
ticker symbol PFG. For more information, visit www.principal.com.
1 Principal Financial Well Being IndexSM: American
Workers 2nd Quarter 2013
2 Principal Financial Well
Being IndexSM: American Workers 2nd Quarter 2013
"The Principal Financial Group" and "The Principal" are registered
service marks of Principal Financial Services, Inc., a member of the
Principal Financial Group.
4 As of June 30, 2013.
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