Financial Challenges Aside, Women Are Enthusiastic on RetirementNew TD Ameritrade survey explores women’s perceptions on aging
November 15, 2018 — OMAHA, Neb.–(BUSINESS WIRE)– Gone are the days of wishing away old age; for women, the consensus is that the best is yet to come. According to a new survey conducted for TD Ameritrade, 73 percent of women believe that “70 is the new 50” — compared to 59 percent of men who say the same.
“The survey results demonstrate that women are coming into their own as they age, seizing opportunities and remaining optimistic as years pass,” said Christine Russell, senior manager of retirement and annuities at TD Ameritrade. “It wasn’t always that way. Multiple reports1 point out women tend to lag men in financial security when it comes to their golden years, but our data shows that they have an incredibly enthusiastic outlook on retirement, as 62 percent say it will be the most liberating phase of their lives.”
Women confident in the future
- Eight in 10 (83 percent) agree that aging provides an opportunity to reach new goals
- Seven in 10 (72 percent) believe that aging finally offers an opportunity to focus on themselves, after years of focusing on others
- More than half (58 percent) plan to travel abroad
“As women grow older and naturally encounter important life events that require careful money management, often times it’s a lot of learning on the fly,” said Russell. “It’s normal to feel overwhelmed at times, but that’s when it’s important to keep the big picture optimistic and seek out resources to help keep financial goals in check.”
In a trade-off game, health comes before wealth
When it comes to their aging aspirations, women place a lot of value on their health. In fact, 88 percent would be willing to trade some of their wealth to be healthy until the end of their lives, with 47 percent ready to give up half or more of their wealth.
“Long-term medical care is expensive, and often not accounted for in retirement costs; but it’s clear most women understand that choosing to prioritize health, the best they can, is a smart personal and financial move,” said Russell. “The survey also shows that for women, the focus on health and wellness extends well beyond just the physical, to focus more on emotional and mental health which is equally important.”
According to the survey, 56 percent would like to focus on their health and wellness, compared to 47 percent of men, while 37 percent of women prioritize living a balanced lifestyle, compared to 27 percent of the male counterparts.
Emotional fulfilment is an aging priority
As kids move out of the house, and careers begin to wrap up, nearly nine in 10 women (88 percent) believe it’s important to retain a higher sense of purpose as they age. At the same time, 76 percent of women believe that compared to 20 years ago, there are more opportunities to pursue meaningful work as they age.
When it comes to their hobbies, women, more than men, look forward to pursing more emotionally fulfilling activities:
- 68 percent would like to spend time with friends and family, compared to 55 percent of men
- 56 percent would like to seek out new experiences, compared to 47 percent of men
- 20 percent would like to give back to the community, compared to 17 percent of men
About TD Ameritrade Holding Corporation
TD Ameritrade provides investing services and education to more than 11 million client accounts totaling approximately $1.3 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 approximately 800,000 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 Women & 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.