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Father Knows Best: Lincoln Financial Study Finds Dads Have a Better Understanding of Personal Finance Than the General PopulationIt turns out there is a reason why Dad is never shy in handing out financial advice. According to Lincoln Financial Group's (NYSE: LNC) Love and Responsibility Survey, dads have a better understanding of personal finance than the general population. The research also showed 88% percent of dads prioritize talking to their children about planning for the future, and they have a good reason-nine in 10 (93%) dads want to ensure their children have more opportunities than they had, and having conversations about personal finance and financial planning can help create those opportunities. Considering that dads are prioritizing financial conversations and that 76% of dads feel they are doing a "good job" having these conversations, it is not surprising that fathers' understanding of several key personal finance solutions exceeds the general population's by more than 10 percentage points. Dads said they feel completely comfortable explaining products like life insurance (88% vs.76%), annuities (63% vs. 47%), long-term care (66% vs. 44%), accident insurance (73% vs. 60%) and retirement accounts (85% vs. 71%). In honor of Father's Day, a few Lincoln Financial dads shared the top financial lessons they give their own kids:
Methodology for the 2018 Love and Responsibility Survey Results for the 2018 Lincoln Love & Responsibility Survey are based on an online survey among 2,393 Americans ages 18+ that was conducted by Whitman Insight Strategies on behalf of Lincoln Financial Group. Field dates were from June 28 to July 3, 2018. The survey included a sample of the General Population as well as over-samples to ensure data cuts by Generational sub-groups as well as Hispanic/Latino Americans (N=432), African Americans (N=417), Asian Americans (N=413), and LGBTQ Americans (N=426). The overall sample was weighted to reflect the proportion of these audiences by gender, age, region, race and Hispanic/Latino ethnicity based on data from the U.S. Census Bureau. The margin of error at the 95% level of confidence for the total sample is ±1.9%. About Lincoln Financial Group Lincoln Financial Group provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, as well as to guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $253 billion in assets under management as of March 31, 2019. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good. Additionally, Lincoln is dedicated to upholding a diverse and inclusive organization and was recognized by Forbes as one of the Best Large Employers, Best Employers for Diversity, and Best Employers for Women and received a perfect score of 100 percent in on both the Corporate Equality Index and Disability Equality Index. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com. LCN-2584583-061119 View source version on businesswire.com: https://www.businesswire.com/news/home/20190611005998/en/ |