Aarp and ad council saving for retirement campaign survey

To support the launch of their joint campaign - Saving for Retirement - AARP and the Ad Council fielded a retirement attitudes survey to 1,500 adults ages 40-59.  ©ISTOCK.COM/ASISEEIT Key

findings include: * RESPONDENTS HAVE CONSUMER-SAVVY SKILLS.  Ninety-two percent have used various money-saving strategies including comparison shopping (68%), clipping coupons (63%), or

signing up for a customer rewards program (61%). * NEARLY ALL (97%) HAD ACCOMPLISHED A SIGNIFICANT FINANCIAL GOAL, including buying a car (91%), buying a home (76%), paying off significant

debt such as a student loan or mortgage (72%), or saving for a family vacation (67%). * HOWEVER, WORKPLACE-BASED RETIREMENT SAVINGS STRATEGIES ARE NOT WIDELY USED.  Only two

commonly-recommended strategies were employed by more than half of respondents – avoiding taking a loan from their retirement plan (58%) and using automatic deduction to contribute to their

employer-sponsored plan (54%).  Less frequently, respondents contribute enough to receive the highest company match (44%), annually increase contributions to retirement plan by even 1%

(27%), put even a portion of a bonus or additional income into their retirement plan (27%), roll over an old employer-sponsored plan into another retirement plan (24%), and make catch-up

contributions to their retirement plan (14%).  * ONLY HALF ARE EVEN SOMEWHAT CONFIDENT that they will have enough money to live comfortably through their retirement years.  Only 14% are very

confident.  * NEARLY HALF (45%) WOULD RATHER MAKE AN APPOINTMENT WITH THE DENTIST than make an appointment to see a financial advisor.  Forty percent would rather save for a vacation than

their retirement.  * INCREASING CONFIDENCE IN SAVING FOR RETIREMENT CAN IMPACT OTHER AREAS.  If they felt more confident in their retirement savings, respondents said they would also feel

less stressed (54%), more financially empowered (54%), happier knowing that they are taking care of their family’s future (46%), more confident in tackling other goals or challenges (38%),

better emotionally and physically (36%), happier in personal relationships (26%), and able to sleep better at night (26%).  This survey was fielded June 2-4, 2017 via GfK’s Knowledge Panel,

a probability-based online survey panel representing the US adult population.  Respondents were ages 40-59, had household incomes of $40,000-$99,999, and were not retired.  For additional

information about the survey, please contact Rebecca Perron at [email protected]. Members of the media should contact AARP Media Relations at [email protected]. For more information about the

AARP and Ad Council Saving for Retirement campaign, please visit AceYourRetirement.org.