| [October 11, 2018] |
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Americans Are Excited to Grow Older, Worry More about Health Care Costs and Finances Than Death
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
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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 Corporation
TD 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 Poll
The 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 Survey
This 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 (News - Alert): TD Ameritrade Holding Corporation
1 http://www.pewresearch.org/wp-content/uploads/sites/3/2010/10/Getting-Old-in-America.pdf
2
https://www.census.gov/prod/cen2010/reports/c2010sr-03.pdf
View source version on businesswire.com: https://www.businesswire.com/news/home/20181011005097/en/
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