Boomers Balance Financial Desires with
Health Needs as they Age
Toronto, ON - The results of a new Ipsos Reid poll conducted on behalf of RBC reveals that as boomers age their focus turns from financial worries to matters of their own health. In fact, the majority (53%) of pre-retirees indicate that they are concerned about having enough money for their retirement, compared to just one third (36%) of individuals who are already retired but worry about having enough money to get through their retirement. Focusing specifically on their health, a minority (41%) of pre-retirees say that they worry about their future health, while a majority (51%) of retirees suggest that this is a concern for them.
Comparing themselves to others in their cohort, one half (50%) of Canadian boomers indicate that being financially better off than their peers is important to them, while a similar proportion (49%) believe that being better off in terms of mental and spiritual wellbeing is important to them.
Interestingly, a majority (57%) of boomers indicate that they do their retirement planning alone. This is somewhat surprising considering that almost all (92%) boomers want their partner, loved one or best friend to be part of whatever life throws at them down the road ahead.
While not necessarily sharing these plans with others, most (89%) boomers are spending at least some time thinking about what they want to do for themselves or their loved ones in the next 20 years. In fact, a vast majority (66%) indicate that it is important to have a plan for the future.
These are the findings of an Ipsos Reid poll conducted on behalf of RBC from August 3 to August 8, 2007. For the survey, a representative randomly selected sample of 2,037 adult Canadians between the ages of 50 and 69 with household assets of $100,000 or more was interviewed online. With a sample of this size, the results are considered accurate to within 177 2.1 percentage points, 19 times out of 20, of what they would have been had the entire adult population in this age and income range been polled. The margin of error will be larger within regions and for other sub-groupings of the survey population. These data were weighted to ensure that the sample's regional and age/sex composition reflects that of the actual Canadian population according to Census data.
For more information on this news release, please contact:
Harriet Shenken
Vice President
Ipsos Reid
(416) 324-2105
Harriet [email protected]
About Ipsos Reid
Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.
To learn more, please visit www.ipsos.ca.
Ipsos
Ipsos is a leading global survey-based market research company, owned and managed by research professionals. Ipsos helps interpret, simulate, and anticipate the needs and responses of consumers, customers, and citizens around the world.
Member companies assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media. They measure public opinion around the globe.
Ipsos member companies offer expertise in advertising, customer loyalty, marketing, media, and public affairs research, as well as forecasting, modeling, and consulting. Ipsos has a full line of custom, syndicated, omnibus, panel, and online research products and services, guided by industry experts and bolstered by advanced analytics and methodologies. The company was founded in 1975 and has been publicly traded since 1999. In 2006, Ipsos generated global revenues of 857.1 million euros ($1.1 billion USD).
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