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Marriage: A key to retirement bliss?

Survey finds married individuals hold more positive outlook during market turbulence


MINNEAPOLIS (Dec. 17, 2008) – Nervous about your retirement prospects? Get married. A recent survey of 947 American adults age 45-64 suggests marriage improves baby boomer attitudes about retirement even in the midst of all of the latest grim economic and market news.

The poll, conducted for Thrivent Financial for Lutherans in the midst of market turbulence Oct. 20-23, found that in comparison to their single counterparts, married individuals are:
  • Eight percentage points more likely to be optimistic about their personal financial well-being, 62 percent vs. 54 percent, as compared to single individuals.
  • Ten percentage points more likely to be confident that they have the proper financial strategy in place to survive economic swings, 41 percent vs. 31 percent.
  • Ten percentage points less likely to be somewhat or very doubtful that their nest egg will last through retirement, 55 percent vs. 65 percent.
  • Five percentage points less likely to cut back on their giving to charity due to market worries, 32 percent vs. 37 percent.
  • Four percentage points less likely to lose sleep over market worries, 11 percent vs. 15 percent.
The survey also indicated that married boomers have several advantages over their single peers when it comes to retirement worries. Joint income certainly helps. The median household income for married respondents was $62,700 versus $34,400 for single respondents.

In addition, married Americans are more likely to be working with a professional financial representative than unmarried individuals (32 percent vs. 24 percent), and married individuals are more likely to relieve their financial stress by spending quality time with family than unmarried Americans (51 percent vs. 34 percent).

“Whether married or single, people can take some of the anxiety out of recent market events and economic uncertainties through proper planning,” noted Jane Zilch, vice president of distribution strategy programs for Thrivent Financial. “Seeking input from a spouse, friend or a financial professional is an important component to feeling confident about one’s financial future.”

About the Thrivent Financial Market Volatility Survey
Data for this survey was collected via eNation online interviews by Synovate. Interviewing took place between Oct. 20-23, 2008, among a nationwide cross section of 947 U.S. adults age 45 to 64 of whom 47 percent were male and 53 percent were female, and 69 percent were married, 30 percent were unmarried, and 1 percent preferred not to answer.

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.

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Contact Information:
   Brett Weinberg
Director, Public Relations
brett.weinberg@thrivent.com
Phone: (612) 844-4272
   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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Appleton Office:
4321 N. Ballard Road
Appleton, WI 54919-0001 USA

Minneapolis Office:
625 Fourth Avenue S.
Minneapolis, MN 55415-1624 USA

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Insurance products issued by Thrivent Financial for Lutherans, Appleton, WI. Not all products are available in all states. Products issued by Thrivent Financial for Lutherans are available to applicants who meet membership, insurability, U.S. citizenship and residency requirements. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, a FINRA and SIPC member and a wholly owned subsidiary of Thrivent Financial for Lutherans. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents of Thrivent Financial.

Bank products and trust services are offered through Thrivent Financial Bank, (Member FDIC, Equal Housing Lender), a wholly owned subsidiary of Thrivent Financial for Lutherans. Insurance, securities, investment advisory services, and trust and investment management accounts are not deposits, are not guaranteed by Thrivent Financial Bank, are not insured by the FDIC or any other federal government agency, and may go down in value.