Comportamento e Aposentadoria

Este é um dos temas mais fascinantes de finanças comportamentais: como os indivíduos mudam sua reação conforme ficam mais velhos?

Um estudo mostrou que o comportamento das pessoas muda antes e depois da aposentadoria. O estudo foi realizado por uma instituição financeira, Prudential Financial, o que demonstra o interesse do mercado pelo assunto.

A pesquisa concluiu que as pessoas são afetadas pelo comportamento e que um parcela dos indíviduos acredita nisto. O texto encontra-se abaixo

New Study Explores Impact of Emotions on Retirement Investors
Business Wire - 17/05/2007

NEWARK, N.J. - (BUSINESS WIRE) - Five dominant emotions can influence retirement investors to react to market uncertainty in ways that may not be in their best interest, a new study released today by Prudential Financial, Inc. (NYSE:PRU) has found.

The "Behavioral Risk in The Retirement Red Zone(R)" research report explores the link between emotions and financial decision-making in investors approaching or in The Retirement Red Zone, the critical investment window five years before and after retirement. The report found that although three of four investors--76%--are affected by their emotions to a moderate or high degree, only one third (35%) believe emotions impact their investment decisions.

"The role emotions play in investment and retirement decisions is being recognized as an important factor in creating a successful retirement," according to David Odenath, president of Prudential Annuities. "For Americans in the Retirement Red Zone, understanding the emotions that can influence their behavior can ultimately help mitigate the effects of behavioral risk."

Focus groups conducted in conjunction with the research indicated that many Retirement Red Zone investors would prefer to rely on their financial professional to better understand the role emotions play in their financial decision-making. Armed with this information, Prudential partnered with experts in the field of behavioral finance at the University of Connecticut to develop a tool to determine an investor's Retirement Emotion Quotient(SM) (EQ). Working with their financial professional, investors can use this tool to determine their unique EQ score and identify which emotions may affect their investment decisions.

The research also identified five dominant emotions and tendencies that can affect Retirement Red Zone investors confronted with investment decisions: fear, regret, inertia, aggressiveness and susceptibility.

Key findings of the study included:

-- Behavioral risk affects nearly all investors to some degree.

Three of four (76%) rate moderate or high on their Retirement EQ score.

-- No single group is free from the influence of behavioral risk.

Seventy-two percent (72%) of men and 80% of women have moderate or high EQ scores, however only one-third of Retirement Red Zone investors (35%) feel emotions have an impact on their decisions.

-- The effects of behavioral risk are witnessed through five distinct emotions or tendencies.

Of the most prominent emotions--fear, regret, inertia, susceptibility and aggressiveness--80% register high or moderate degrees of regret, and 71% high or moderate degrees of fear, which can influence financial decisions.

-- Behavioral risk can influence investors to react in ways that may not be in their best interest.

For example, 86% of those registering a high degree of susceptibility (those influenced by the advice of friends or relatives) would take some or all money out of the market if confronted with significant market losses. Similarly, 78% of those scoring high on fear would do the same.

-- When confronted with the possibility of significant losses in The Retirement Red Zone, investors question their confidence in their retirement planning.

Eighty-nine percent (89%) of pre-retirees and 80% of retired investors wish they had incorporated better downside protection of their retirement assets.

-- Products that provide both accumulation and income guarantees help mitigate the effects of behavioral risk.

Three in four (75%) investors would consider an investment product that could provide various guarantees. With the benefit of these guarantees, most (85%) would be likely to weather out short-term losses.

"One clear outcome of the study: investors want to learn more about products that offer guarantees, and would seriously consider those products that offer protection against downside losses, participation in market gains and lifetime income," according to Odenath. To download a copy of the report, visit www.retirementredzone.com [http://www.retirementredzone.com].

Optional income guarantees and other annuity riders have limitations and come at an additional cost through the purchase of a variable annuity contract. Annuities are issued by The Prudential Insurance Company of America, Newark, N.J., or its affiliates. Securities products and services distributed by Prudential Investment Management Services LLC (member SIPC), Three Gateway Center, 14th Floor, Newark, NJ 07102-4077. All are Prudential Financial companies. Each is solely responsible for its own financial condition and contractual obligations. Guarantees are dependent on the claims-paying ability of the issuing company.

Investors should consider the contract and underlying portfolios' investment objectives, risks, charges and expenses carefully before investing. This and other important information are contained in the prospectuses, which can be obtained from your financial professional. You should read the prospectuses carefully before investing.