Women may start saving for retirement earlier than men, but that doesn’t mean women feel any more confident about their ability to retire, new research has found. In fact, women worry more about their retirement savings than do men.
Overall, 22 percent of women over the age of 23 say they have begun saving for retirement, compared to just 13 percent of men from the same age group. However, 30 percent of women feel their financial situation will decline in retirement, compared to just 23 percent of men who share those fears.
“There are several legitimate reasons why this may be the case, including much of the financial industry’s poor performance in engaging women around financial planning,” said said Lule Demmissie, managing director, investment products and retirement at TD Ameritrade, Inc., a broker-dealer subsidiary of TD Ameritrade Holding Corporation, which conducted the research.
“Women have an opportunity to be much more engaged in the financial process,” Demmissie continued. “It’s important for them to take actionable steps in planning for retirement, particularly given their longer life expectancy.”
Retirement is not all it’s cracked up to be, a new poll from RBC suggests.
The RBC poll compared with what retirees said they do with what pre-retirees said they planned to do. According to the bank, “retired Canadians are living lifestyles that are worlds apart from how nearly retired Canadians think they’ll be spending their retirement years.”
Some of the key differences:
- More than half 56 per cent of pre-retirees said they’d volunteer, but only 38 per cent of retirees do.
- Nearly three-quarters 74 per cent of pre-retirees said they’d travel, but only 58 per cent of retirees actually do.
- Three out of 10 pre-retirees said they’d become a snowbird, but only 14 per cent of retirees do.
Strange Random Retirement Quote:
When you retire, you switch bosses – from the one who hired you to the one who married you. – Gene Perret
- Freedom 55 dreams differ from retired reality (moneyville.ca)
- Union retirees worried about pension cuts (cbc.ca)
- First time buyers relying on retired parents (confused.com)
- Canadians dream of retiring debt-free at 63 – then reality sets in (canada.com)
- 7 Misconceptions About Retired Life (money.usnews.com)
- Retirement at 63 more of a dream than reality for Canadians: Poll (vancouversun.com)
- Retirement or College? The Toughest Choice You May Not Have to Make (education.com)
- Pension savers to benefit from flexibility (confused.com)
- Retirement Planning- What CAN you count on? (everymaninvesting.com)
- Eighty and employed (macleans.ca)
- Baby Boomers Are In For A Retirement Health Shock (forbes.com)
- Older workers hold on longer (theage.com.au)
- Poll: Seniors Disappointed By Golden Years (npr.org)
- Today’s retirees 60pc worse off as gilt yields fall to record lows (telegraph.co.uk)
About 51.4 million people were living in some kind of multigenerational household in 2009, according to the Pew Research Center’s analysis of the Census data released last month. That’s a more than 10 percent increase from just two years earlier, when about 46.5 million people were living with another generation of their family, according to Pew.
The percentage of Americans who are living with multiple generations has been on the rise for a few decades, reversing a trend toward living apart that had begun in the 1940s. About 16.7 percent of Americans lived with someone from another generation in 2009, up from 15.1 percent in 2000.
Strange Random Economy Quote:
The only reason a great many American families don’t own an elephant is that they have never been offered an elephant for a dollar down and easy weekly payments. – Mad Magazine
- Setting terms with the Bank of Mom and Dad (ajc.com)
- The Death Of The American Nuclear Family (businessinsider.com)
- Parenting ‘Boomerang’ Children (everydayhealth.com)
- 7.5 Million Households Are Missing (delong.typepad.com)
- When ‘Adult Kids’ Move Back Home (wycd.radio.com)
- Mr. Mom: Recession Shifting Men’s Roles (abcnews.go.com)
- Treating the US Budget Like A Family Budget: A Play In One Act (pt5.psychologytoday.com)
A University of Massachusetts Dartmouth poll released Sunday says that 56 percent of residents support a proposal by Gov. Deval Patrick and leaders in the legislature that would authorize three “resort casinos” and one slot parlor through competitive bidding.
The survey of 552 residents found that 56 percent supported the proposal, 31 oppose it and 13 percent were undecided. The survey, conducted by the university’s Center for Policy Analysis, had a margin of error of 4.1 percent.
Strange Random Gambling Quote:
Someone once asked me why women don’t gamble as much as men do, and I gave the common-sensical reply that we don’t have as much money. That was a true but incomplete answer. In fact, women’s total instinct for gambling is satisfied by marriage. – Gloria Steinem
- Casino bill puts $25m focus on addicts (boston.com)
- New Yorkers support legal casino gambling: poll (huffingtonpost.com)
- Poll: 72 Percent Minnesotans Want State Gambling Legalized (indiancountrytodaymedianetwork.com)
- Massachusetts Moves Closer To Legalizing Casino Gambling – Hartford Courant (news.google.com)
- Poll: New Yorkers Want To Gamble On Casinos (newyork.cbslocal.com)
- Poll: New Yorkers support gambling (timesunion.com)
- Is EA’s PopCap working on casino-style Facebook games? [Rumor] (games.com)
Governments keep a close eye on mundane inflation data. But the rising cost of iconic, regional items are often a truer gauge of the actual cost of living. Services make up 24 per cent of Brazil’s benchmark inflation index, and they rose 8.57 per cent in the year up to April — the fastest pace in 15 years, official data showed this week. Included in the services category are bikini waxes, the price of which has gone up by 12.4 per cent over that time period, Bloomberg reported Friday. “Some clients are coming less frequently for haircuts because of the higher price, but not for waxing,” Brasilia beauty shop owner Alessandra Rita de Arruda Lopes told the news agency. “Brazilian women might let their hair grow longer, but they’ll never stop getting waxed.”
More mundane items such as oil changes and car cleaning rose 18.25 per cent during the period, well ahead of the “official” inflation rate.
Strange Random Inflation Quote:
“Inflation is bringing us true democracy. For the first time in history, luxuries and necessities are selling at the same price.” – Robert Orben (US magician and comedy writer, b. 1927)
- Brazilian Bikini Wax Watch (paul.kedrosky.com)
- Goldman shares fall after subpoena report (cbc.ca)
- ARA: Looking for a bikini wax recommendation (timesunion.com)
- VAT hike ‘absorbed by retailers’ (premierlinedirect.co.uk)
- Food inflation eases marginally to 8.06% (hindu.com)