According to an AIG Life and Retirement survey released Monday, 49 percent of Miami area residents 55 and older say they feel less financially secure now than they did a year ago, which is the lowest percentage among eight metro areas surveyed.
In addition, 34 percent of Miami area residents feel very financially prepared to achieve financial independence in retirement, which is the highest percentage among the eight areas surveyed, according to the findings from the AIG Retirement Re-Set Survey, conducted in partnership with Age Wave, a research firm that studies aging issues.
Among other findings: 75 percent of Miami area residents say the recent economic uncertainty has provided a financial wake-up call and 80 percent said they were taking a more cautious approach to investing.
Overall, AIG said the latest survey shows that despite an improving economy and rebounding stock market, Americans are sticking to a new strategy that embraces caution in spending and saving for their retirement.
INA PAIVA CORDLE