News Releases
| << Back |
Frugally female: Retired women do ‘little things’ to save money
Senior females more likely than male counterparts to stretch retirement dollars
| MINNEAPOLIS (June 16, 2008) – Are retired American females more frugal than their male counterparts? “Yes,” says a recent national survey of 800 American adults age 60 to 74.
The poll, conducted for Thrivent Financial for Lutherans, found that retired females are more likely than their male counterparts to take practical steps to save money compared to their pre-retirement lifestyles:
The survey did find that retired males and females share statistically similar support for three retirement money-saving activities. Thirty-seven percent of males and 36 percent of females said they are traveling less or closer to home compared to their pre-retirement lifestyle. Fifteen percent of both genders said they are walking, bicycling or taking public transportation instead of driving, and three percent of women and two percent of men said they had moved in with their children to save money. Retired males did outshine retired females in one area, according to the survey. Thirty-six percent of retired males said they were unwilling to take any money-saving steps in retirement, compared with 28 percent of females. Perhaps not surprisingly, the higher the income of a respondent, the less likely he or she was to take money-saving steps compared to their pre-retirement lifestyles. For example, nearly half (49 percent) of retirees with lower incomes (less than $40,000) reported giving fewer or smaller gifts to family members compared to 17 percent of those with higher incomes ($80,000 or more). Similarly, 43 percent of those with lower incomes reported they shopped with coupons or at sales compared to 15 percent of those having higher incomes. “It’s good to be frugal as long as fear and worry aren’t driving one’s decision-making,” said Mark Anema, vice president of accumulation and retirement income solutions for Thrivent Financial. “One key to a satisfying retirement for both males and females is knowing how to appropriately align one’s assets, income and spending to one’s circumstances and goals.” About the Thrivent Financial Retirement Income Survey Data for this survey were collected via telephone interviews by the Discovery Research Group on behalf of Action Marketing Research. Discovery was responsible for collection of the data only. Action Marketing Research was responsible for the survey design and was solely responsible for data weighting and analysis. Interviewing took place between Dec. 1 and 13, 2007, among a nationwide cross section of 800 U.S. adults age 60 to 74 of whom 397 were men and 403 were women. Sixty-four percent of respondents indicated that they are retired, 16 percent identified themselves as partly retired and 20 percent considered themselves not retired. About Thrivent Financial for Lutherans Thrivent Financial for Lutherans is a Fortune 500 financial services membership organization helping nearly 3 million members achieve their financial goals and give back to their communities. Thrivent Financial and its affiliates offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. As a not-for-profit organization, Thrivent Financial sponsors national outreach programs and activities that support congregations, schools, charitable organizations and individuals in need. For more information, visit www.thrivent.com. -END- 200801696 |
| Contact Information: | |||
| Dave Rustad, APR Senior Media Relations Specialist dave.rustad@thrivent.com Phone: (612) 844-7037 | Stacy Eckes-Borys Senior Media Relations Specialist stacy.eckes-borys@thrivent.com Phone: (920) 628-2445 | ||
Add to Favorites
Email a Friend
Add to Yahoo
Add to Google
Add to Digg
Add to Facebook
Add to Twitter
Add to Del.icio.us
Add to Reddit
Add to Newsvine
Add to StumbleUpon
