FOR IMMEDIATE RELEASE
September 13, 2011
AARP Media Relations, 202-434-2560
AARP-Harris Interactive Survey Finds Boomer Women Focus on Finances When Trying to Secure Their Future
WASHINGTON, D.C. – Most boomer women focus more on their personal finances than their health in planning for their futures, according to a new AARP-Harris Interactive Survey. Meanwhile, only one out of seven women who are already retired is confident that she will have enough money to sustain her retirement. The poll also found that as women age, the more important staying healthy becomes in planning for a secure future.
“Women spend so much time focused on work and others that we may not turn the spotlight on our own futures as early or as effectively as we might,” said Cassandra Oshinnaiye, Manager of AARP’s Decide. Create. Share. campaign which helps boomer women plan for their retirement years, “but even in this economy, there are simple steps anyone can take to plan for a more secure future.”
The majority of women age 45+ surveyed for AARP said financing their long-term retirement was their primary goal in planning for the future and most also have had conversations about the future with loved ones. Almost three-quarters (72%) of those who have talked about their futures with their family or friends said they talked about how they will support themselves financially. However, younger boomer women under age 55 are more likely to report they have not had any conversations about their own retirement future because they feel they have plenty of time to address it.
“It is never too early for women to start talking to family members and laying the foundation to live the lives we choose as we age,” said Oshinnaiye. “Women live 5 years longer than men on average and two-thirds of women are single by age 75. Almost 2 of 3 people age 85 and over are women.”
Married and un-married women in the survey differed on one key aspect in planning for a secure future. Married women are more likely to focus on their physical health rather than financial well-being. Meanwhile, single or never-married women are much more concerned about their finances.
“A few simple steps today can start you toward a more secure future down the road,” Oshinnaiye said. “You can organize important documents and tell family members where to find them – or simply have an initial conversation with a loved one about your wishes for the future. It’s always a good idea to start thinking and talking about the future before events force decisions to be made in a crisis.”
The poll of 1,210 U.S. women ages 18 and older (with 640 aged 45 and older) which was released today was conducted online by Harris Interactive using its Quick Query omnibus in March of this year. For more information about long-term care planning and the resources AARP provides for women, please visit: www.aarp.org/decide. Also take a look at a special insert in AARP VIVA, a bilingual publication, for real stories from real women who are planning for their future: http://www.aarp.org/relationships/caregiving/info-08-2011/essay-esmeralda-santiago.html.
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