Let’s Get Planning — If you have the retirement planning blahs, here are a few expert tips to get you inspired.

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Q: According to a recent survey, 1 in 3 middle-aged Americans would rather clean the bathroom than plan for retirement. Why is retirement planning so unappealing?

A: Some people know they aren’t as prepared as they should be, and it’s difficult to admit it. For others, it’s just daunting to get started. They don’t have a financial adviser they trust, they’ve never thought through a plan and it’s overwhelming to know where to start. And for still others, there’s no sense of urgency. They think they have plenty of time and don’t truly understand the concept of money needing time to grow.

Q: For an average American earning just over $50,000 in a year, what would he or she need to save to retire securely at 65?

A: According to the Employee Benefit Research Institute, if you’re in your 20s and already saving in the 9 to 13 percent range on a consistent basis, using good asset allocation, you should be just fine. If you’re in your 40s and just getting started, and you plan to live to 85, you will need to save approximately 19 percent of your annual income to retire comfortably. Most people should aim to replace 80 percent of their pre-retirement income, and some experts recommend having an amount in savings at retirement that is a given multiple of your current income—8 to 12 times, for example. These are general rules, and your Thrivent Financial representative can run the math based on your current age, how much you have saved and how long you may live.

Consider the fact that many employers are abandoning defined benefit pension plans, and that Social Security and our other public social insurance programs have long-term funding issues. It becomes imperative that you personally save for your own retirement.

Q: What specific steps should people be taking to plan?

A: There are seven things that people of all ages should be considering and doing as they look toward retirement. We’re calling them our “seven beliefs.” The first is to have a vision for what you want your retirement to look like. Second, make a plan, ideally with professional guidance, and revisit it as needed to ensure you are staying on track. Third, as you near retirement, or even in retirement, rethink working. Fourth, spend wisely. Fifth, save and invest to build your retirement nest egg. Sixth, protect your future. Last but not least, give back—to your church and your community—whether through your talents or your financial gifts.

Q. The personal savings rate in America was recently reported to be in the red. Why do we have so much trouble saving?

A. Over the past two decades, our society has become much more consumer oriented. I’m often struck by how materialistic we’ve become. Everything has become super-sized. And the messages we continue to hear are to spend more, get a bigger car, get another credit card. It’s not a healthy thing for people’s finances, especially for families challenged by limited resources. The average middle-income family, after giving back, paying for housing, transportation and the basics, has very little left at the end of the month.

Q. Is it a good idea to roll retirement assets into one account? Why?

A. Each person has to assess how they want to handle their finances, but for many there’s an ease to having it all in one place. Asset allocation—the strategic allocation of your investing dollars to stocks, bonds, cash, and so on—is crucial to help minimize market risk and maximize returns. This is more easily done if your resources are all in one location, with one adviser providing consistent expertise. And once you begin to draw down your assets in retirement, it becomes even more important to understand the big picture of where your assets are. You need to be aware if you are taking too much out, or if you’re not being aggressive enough as an investor. Consolidating to a single account can make it easier to stay on top of these decisions.

Q. Thrivent Financial is still primarily a life insurance company, right?

A. We’re much more than that now. When we were founded more than 100 years ago, the average life expectancy for an American was 47. Back then, helping people with their financial security meant primarily helping them find affordable life insurance. Today, the average life expectancy of a baby boomer is 77, so people now need help planning and living a long and successful retirement. As a result, we’ve evolved into a Fortune 500 financial services organization able to provide a wide range of advice, solutions and financial products and services, including life insurance, annuities, mutual funds and disability income insurance.

Q. I want to work with a financial services organization that has integrity, but I also want to work with one that can deliver performance. Where does Thrivent Financial fit?

A. We are a faith-based membership organization. Our first priority is our members, earning and keeping their trust. But we realize that trust is not just about being “good folks.” It’s also about performance. To that end, we’ve worked really hard the last several years to improve our competitiveness. At year-end of 2005, almost 90 percent of our Thrivent-managed equity funds beat their Lipper medians for the year, while 60 percent did the same on the fixed-income side. We’ve continued to expand the options available on the investment side, and as a life insurance company, we are able to help you plan to protect yourself against the risks of inflation, longevity and extreme health care. Your Thrivent Financial representative has a wealth of solutions available to help you plan for retirement. We can be your guide to thrive.

Q. Many experts worry that baby boomers aren’t prepared for retirement. What’s your take?

A. I agree with the experts; many baby boomers are not prepared. The Retirement Risk Index, which measures the percentage of working-age households who are at risk of being unable to maintain their pre-retirement standard of living in retirement, says they’re not saving enough. About 35 percent to 44 percent of boomer households are at risk, according to this index, created by the Center for Retirement Research at Boston College. And the reality of today’s retirement—longer life spans, higher medical costs and increasing inflation—clearly necessitates the need for people to create a strategy to reach their retirement goals.

Many baby boomers—and others, too—are operating in the dark when it comes to knowing what they will need to retire comfortably. The only way to get past that is to sit down with a financial professional and take an inventory of needs and resources, and then take the steps to find the solutions.