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Emerging Affluent Investors

Matthew Drinkwater, Ph.D., FSRI, FLMI, AFSI, PCS 2/21/2025

Find out what motivates younger investors as they balance competing needs while building their early wealth.

Summary

Emerging affluent investors, aged 25 to 45 with $100,000 to $499,999 in household investable assets, are critically important long-term prospects for the kinds of products and services the retirement industry offers. This study identifies opportunities for companies in the retail retirement space, focusing on emerging affluent investors’ experiences and outlook regarding:

  • Primary financial goals
  • Use of financial professionals
  • Relationships with financial institutions
  • Retirement and annuities
  • Investment, product, and account ownership

Throughout, key differences between emerging affluent investors and retirement investors are highlighted.

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Meet the Project Director

Matthew Drinkwater, Ph.D., FSRI, FLMI, AFSI, PCS

Matt Drinkwater, who joined LIMRA in 1999, leads the annuity and retirement income primary research program. He has led the creation of several major studies of retirement planning, retirement income planning and management, and consumer preferences for receiving advice. Drinkwater has directed several institutional retirement research projects, including studies of asset retention and the rollover market. His research on annuities has encompassed in-depth studies of product features, buyer and owner characteristics, persistency, and living benefit utilization.

He is a graduate of Trinity College (Hartford, CT) and holds a doctorate in psychology from Brown University.

Corporate Vice President, Annuity and Retirement Income Research
LIMRA and LOMA
mdrinkwater@limra.com


For more information, please contact mdrinkwater@limra.com.

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