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Why fight? Retired couples agree on spending
National survey also identifies potential challenges to financial harmony
| MINNEAPOLIS (June 23, 2008) – If retirement spending was a ballroom dance, most American couples would be gracefully waltzing across the financial dance floor, according to a recent national survey of 800 American adults age 60 to 74.
The poll, conducted for Thrivent Financial for Lutherans, found that seven in 10 retired couples (71 percent) fully agree on spending issues. In addition, two in 10 (20 percent) said they generally agree but have periodic arguments. Just one in 20 (five percent) reported that they frequently disagree, with routine arguments over money decisions. Respondent income levels affected respondents’ agreement levels. Those with higher incomes ($80,000 or more) were most likely to fully agree on retirement spending (83 percent). Respondents with middle incomes ($40,000 to $79,999) were most apt to generally agree (27 percent), while those with lower incomes (less than $40,000) were most apt to frequently disagree (11 percent). The survey also uncovered sources of disagreement among couples about retirement spending:
The survey found that more than half (52 percent) of those with incomes of less than $40,000 cited “their worry” was a source of disagreement with their spouse or partner. This compares to 26 percent of those earning $40,000 - $79,999, and 11 percent of those earning $80,000 or more. “Differences of viewpoint can be healthy if they help couples understand each others’ needs,” said Mark Anema, vice president of accumulation and retirement income solutions for Thrivent Financial. “Thanks to a host of new technologies, it is now possible for seniors to be confident that their spending levels are appropriate, even given constantly changing markets, inflation levels, health issues and personal needs.” 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- 200801697 |
| 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 | ||
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