July 9, 2008
Survey Reveals Retirees’ Priorities
Men play with yards, women play with grandkids. That, in a nutshell, summarizes retired couples' main retirement focuses, according to a recent national survey of 800 American adults age 60 to 74 conducted for Thrivent Financial for Lutherans.
The survey asked retirees to select their top priority from six everyday activities. Taking care of the yard and spending time with grandchildren were statistically tied for top billing among married/partnered men while spending time with grandchildren was the clear favorite among married/partnered women.
The main retirement focus for males included:
-- Taking care of things around the house and yard (28 percent);
-- Spending time with grandchildren or other family members (26 percent);
-- Enjoying things like playing golf, shopping, going out with friends (18 percent);
-- Pursuing hobbies (12 percent);
-- Volunteering in the community (seven percent);
-- Watching where your money goes, clipping grocery coupons, etc. (six percent).
The main retirement focus for females included:
-- Spending time with grandchildren or other family members (36 percent);
-- Taking care of things around the house and yard (25 percent);
-- Enjoying things like playing golf, shopping, going out with friends (16 percent);
-- Pursuing hobbies (eight percent);
-- Watching where your money goes, clipping grocery coupons, etc. (seven percent);
-- Volunteering in the community (three percent).
Retirees of both genders having incomes of $40,000-$79,999 are most apt to cite spending time with grandchildren or other family members as their main focus in retirement. Thirty-four percent of males and 42 percent of females in this income bracket reported grandkids/family as their retirement priority.
"Whatever one's retirement priority, proper planning can help make it happen," said Mark Anema, Thrivent Financial vice president. "Properly understanding the relationship between one's assets, income and spending allows retirees to address their life goals with confidence."
Data for this survey were collected via telephone interviews between Dec. 1 and 13, 2007, among a nationwide cross section of 800 U.S. adults age 60 to 74.
Thrivent Financial for Lutherans is a Fortune 500 financial services organization helping its members achieve their financial goals and give back to their communities. For more information, visit www.thrivent.com.