AARP Foundation Tackles Needs of Women

Source: AARP Press Center | April 6, 2006

A landmark report will be released today, during the launch of the AARP Foundation Women's Leadership Circle, (WLC) that uncovers hidden realities, debunks myths, and identifies the need for programs that improve the quality of life for women 45 and older.

The survey, Looking at Act II of Women's Lives: Thriving and Striving from 45 On, was conducted by Roper Public Affairs and features results from interviews with women across the country.

Much of the research revealed a sense of false confidence among many women 45+ as it explored perceptions alongside day-to-day realities of financial issues such as savings, retirement planning and emergency funds. For example, while 61% of women are confident they will have enough money to enjoy life in their later years, the majority (62%) don't have a long-term spending plan for when they retire. Nearly all respondents (90%) said they would rely on Social Security to some degree as retirement income, making this the most common single source of income for women in their later years. In case of a financial emergency, three quarters of women (73%) said they always or sometimes have a few thousand dollars available, but when asked about obtaining funds, more than one fifth (22%) said they didn't know where they would get the money, 35% would use their savings and 6% said they have "no way of paying the unexpected bill."

"The findings provided us with significant insight into the mindset of the multi-generational, multicultural society of women" said Robin Talbert, executive director, AARP Foundation. "We will use this knowledge to develop targeted programs to address these factors. In launching the WLC, we are using the collective power and experience of an amazing community of women leaders to raise national awareness of issues affecting women as they age."

When it came to health, nine in ten women 45+ (91%) say they are confident they are doing all they can to stay as healthy as possible, although one in three (32%) feel the cost of health care or prescriptions drugs sometimes prevents them from seeing a doctor or getting treatment when they need it. Nearly three in ten replied that caring for other people leaves them with too little time for taking care of their own health (28%). In addition, 58% said that they would be more likely to exercise if they had a buddy or friend to do so with them.

Women, who are often catalysts of social change, have begun to challenge and change the perception, image, and language of aging among themselves. Eighty four percent said they know of at least one woman older than themselves who they consider to be a personal inspiration. The majority of women 45+ consider themselves happier now than they have ever been (65%), thus strongly deflating the myth that the older women become, the less happy they are. Seventy-seven percent of women 45+ consider their older years a time for pursuing dreams and doing things they have always wanted to do.

In response to the research, the WLC plans to develop two programs this year.

"Since our research clearly indicates that women are more inclined to exercise with a buddy, than alone, we will develop a socialization and exercise program to give women the added incentive of partnering with a friend to improve not only her health but her friend's as well," said Talbert. "We also plan to launch a program that will encourage women to sign up for 401(k) plans through automatic enrollment. This will give women the opportunity to pay themselves first and begin to save," added Talbert.

The AARP Foundation WLC is a diverse group of women from across the country whose varied backgrounds, insights and experiences have created a network of trust to help women navigate their lives as they age. The group seeks to leverage the philanthropic power and passion of women to improve and enhance women's lives as they grow older. These resources (both private and corporate) will support initiatives that result in empowerment, protection and security for all women.

Sponsors of the WLC launch event are New York Life Insurance Company and United Health Care. The research, sponsored by The Hartford, was conducted in two parts beginning with 81 individual interviews and later with a nationally random sampling of 1,200 telephone interviews and over samples with African-American, Hispanic and Asian/Pacific Islanders women (500 each). The interviews took place August 17 through November, 14, 2005 with a sampling error of +/-3%.

In addition, Bank of America is making a charitable contribution of $1 million over the next four years to be used for the program initiatives of the AARP Foundation Women's Leadership Circle.

The AARP Foundation is AARP's affiliated charity. Foundation programs provide security, protection and empowerment for older persons in need. Low-income older workers receive the job training and placement they need to re-join the workforce. Free tax preparation is provided for low- and moderate-income individuals, with special attention to those 60 and older. The Foundation's litigation staff protects the legal rights of older Americans in critical health, long-term care, and consumer and employment situations. Additional programs provide information, education and services to ensure that people over 50 lead lives of independence, dignity and purpose. Foundation programs are funded by grants, tax-deductible contributions and AARP.

For more information on the AARP Foundation Women's Leadership Circle or to access the full research report visit www.aarp.org/foundation/wlc