Americans Are Excited to Grow Older, Worry More about Health Care Costs and Finances Than Death
October 11 2018 - 8:30AM
Business Wire
TD Ameritrade survey sheds light on shifting
attitudes around aging
Perceptions and aspirations for aging may be experiencing a
major shift, according to the new survey of 2,002 U.S. adults
commissioned by TD Ameritrade. The study reveals that aging
timelines are lengthening, as the average age one would classify
someone as “old” is now 74, up from 68 in 20091. Furthermore,
expectations for longevity are reaching new heights – Americans
expect to live to age 84, on average.
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(Graphic: TD Ameritrade)
“People are living longer2 and surely that influences perception
of what is deemed to be ‘old age’. But it’s also influenced by how
Americans aspire to live their lives as they age,” says Matt
Sadowsky, director of retirement and annuities, TD Ameritrade. “Our
survey shows that people see aging as a time to pursue new goals
and passions, reflecting that they intend to live active,
fulfilling lives deeper into retirement. A more active lifestyle at
older ages contributes to the shift in our perception of old
age.”
The Golden Years of Opportunity – Aging Aspirations
Are on the Rise
- Eight in 10 (81 percent) see aging as
an opportunity to reach new goals
- Three-quarters (76 percent) agree that
aging provides time to pursue passions that did not fit into their
lives before
- As they age, most (62 percent) want to
spend time with friends and family, travel abroad (57 percent) or
take up a hobby (52 percent)
- Americans say retirement is – or will
be – the most liberating phase of their life (72 percent retired,
61 percent pre-retired)
“Our findings show that whether you’re a millennial or a boomer,
people are generally upbeat about the opportunities that come with
aging,” continues Sadowsky. “Americans are more likely to associate
aging with wisdom (65 percent) and experience (69 percent), than
becoming a burden (18 percent) or becoming out of touch (17
percent). The optimism extends across all the generations.”
Yet Despite the Glowing Outlook on Aging, Worries Do
Exist
- Americans worry more about the health
care costs and finances (43 and 35 percent, respectively) than
death (26 percent)
- Declining health is the top fear
Americans face about getting older, as losing mental and physical
function (both 58 percent) rank the highest
- Nearly half (46 percent) fear losing
loved ones
Most Aren’t Confident That They’re Preparing for Retirement
Correctly
- While half of the respondents would
like to retire by 60, just 33 percent expect to do so, primarily
due to the need to save more (72 percent)
- Seven in 10 (72 percent) do not believe
social security will cover their spending
- Six in 10 have/had no idea how much to
save for life beyond 65
- Half (51 percent) do not believe
they’ll have more than enough money to cover their needs in
retirement
“Financial considerations for retirement are very real concerns
and do weigh heavy. Nevertheless, our survey shows most people view
retirement as the most liberating phase of their lives,” Sadowsky
concludes.
About TD Ameritrade Holding CorporationTD Ameritrade
provides investing services and education to
more than 11 million client accounts totaling more than $1.2
trillion in assets, and custodial services to more than
6,000 registered investment advisors. We are a leader in U.S.
retail trading, executing an average of more than 780,000 trades
per day for our clients, more than a quarter of which come from
mobile devices. We have a proud history of innovation, dating
back to our start in 1975, and today our team of nearly
10,000-strong is committed to carrying it forward. Together, we are
leveraging the latest in cutting edge technologies and one-on-one
client care to transform lives, and investing, for the better.
Learn more by visiting TD
Ameritrade’s newsroom at www.amtd.com, or read our
stories at Fresh Accounts.
Brokerage services provided by TD Ameritrade, Inc., member
FINRA (www.FINRA.org)/SIPC (www.SIPC.org).
About The Harris PollThe Harris Poll is one of the
longest-running surveys in the U.S., tracking public opinion,
motivations and social sentiment since 1963. It is now part of
Harris Insights & Analytics, a global consulting and market
research firm that strives to reveal the authentic values of modern
society to inspire leaders to create a better tomorrow. We work
with clients in three primary areas; building twenty-first-century
corporate reputation, crafting brand strategy and performance
tracking, and earning organic media through public relations
research. Our mission is to provide insights and advisory to help
leaders make the best decisions possible.
About the Redefining Aging SurveyThis survey was
conducted online within the United States by The Harris Poll on
behalf of TD Ameritrade from July 17 - 21, 2018, among 2,002 U.S.
adults aged 18 and older. This online survey is not based on a
probability sample and therefore no estimate of theoretical
sampling error can be calculated. The Harris Poll is separate from
and not affiliated with TD Ameritrade, which is not responsible for
their services or policies.
Source: TD Ameritrade Holding Corporation
1
http://www.pewresearch.org/wp-content/uploads/sites/3/2010/10/Getting-Old-in-America.pdf2
https://www.census.gov/prod/cen2010/reports/c2010sr-03.pdf
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TD Ameritrade Holding CorporationFor Media:Becky Niiya,
402-574-6652Director, Corporate
Communicationsrebecca.niiya@tdameritrade.com@TDAmeritradePRorFor
Investors:Jeff Goeser, 402-597-8464Director, Investor
Relationsjeffrey.goeser@tdameritrade.com
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