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Raley, Watts & O’Neill Insurance

Since 1950, Raley, Watts & O’Neill has been serving the insurance needs of our clients. We started as a one person operation in Lexington Park, MD and are proud of our small town heritage. We have worked hard to maintain the fundamental principles of our roots while we have grown into a company that serves clients throughout the Mid-Atlantic, the United States and Internationally. We pride ourselves on getting it right and taking care of the needs of our clients. We simplify the insurance process and take the time to make sure each of our clients understand their options, what they are buying and where their money goes. Our committed staff has the expertise and extensive experience in a broad range of insurance products and services like Commercial, Personal, Bonding, Safety/Risk Management, Group Health, Life and Financial Services. We would welcome the opportunity to demonstrate to you how working with Raley, Watts & O’Neill is about more than just insurance; it is about a long term relationship. We always strive to never veer from our values – C.A.R.E

Workers Face Financial Retirement 'REALITY CHECK'

Gordon O’Neill Gordon O’Neill , 1/13/2016
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1Workers, shaken by the woes impacting the economy, have adjusted their visions of retirement according to a recent nationwide study.

The 13th Annual Transamerica Retirement Survey, based on responses from 3,600 American workers, found that the majority of respondents (56%) plan to work past age 65 and to continue working after they retire, (54%) despite workers' demonstrated commitment to saving, fewer than two in five (39%) believe that they're building a secure nest egg - thus reinforcing the need to redefine "retirement readiness" in a way that reflects financial reality.

According to the survey, although more than half of workers polled (57%) have a retirement strategy, only 12% have put their plan on paper. Of those with any form of strategy, fewer than one in six (15%) have factored in contingency plans for retiring sooner than expected and/or a shortfall in savings. What's more when, asked how they estimated their savings needs for retirement, nearly half of respondents (47%) admitted to guessing.

Many workers (44%) expect to rely on savings from 401(k) or similar plans as their primary source of retirement income An overwhelming 90% cited an employee self-funded plan as important; more than half (53%) would be likely to leave their current employer for a similar job that provided better retirement benefits.

More than three in five respondents (62%) wanted information and guidance about retirement planning from their company. When asked what would motivate them to learn more about saving for retirement a majority (52%) cited a good starting point or educational materials that are "easier to understand."

We'd be happy to help you provide your employees with effective financial planning guidelines for their retirement - just give us a call.