Men are not as confident as they have been in the past in regards to having a well defined investment strategy for their retirement money. Some 48% of those surveyed in November expressed they did, in fact, have a well defined strategy, compared with 55% of those surveyed in June.

I have a well defined strategy for investing my retirement plan money

In November, more men expressed a willingness to take on significant risk to achieve higher returns than in June. Forty-eight percent of men in November acknowledged they would take on significant additional risk to earn higher returns versus 41% of men in June.

I am willing to take significant risk to earn more on my investments

While this erosion of confidence in their strategy is having an impact on the risk tolerance of these participants, it is not yet impacting their investment selection. The percentage of risk-averse men who want a guaranteed rate of return on their investments declined in November to 47% from 50% in June.

To some extent, the findings of the November survey substantiate the need for advice, particularly among men, a group that may not readily acknowledge the need.