Do mothers serve as role models
for their daughters planning for retirement? Telephone interviews with 1,267 women
with a household income of $40,000 or greater ($20,000 for the oldest respondents)
looked at the attitudes of women toward their years after work. The 510 mothers
were retired and an average age of 65.5 years. Their working daughters (757) were
an average 45.3 years. The majority of mothers (75%) and daughters (80%) were
married.

Three quarters of mothers retired before the traditional retirement
age of 65, yet only 37% of their daughters predict they will retire before then.
Married women in both age groups were more likely to retire earlier than unmarried
women.

Nearly 9 in 10 mothers (90%), but just 75% of daughters, report
Social Security as a current or future source of retirement income. By contrast,
77% of daughters, compared with 46% of mothers, indicate their retirement will
be funded by an employer-sponsored retirement plan.

"Today’s younger women clearly do not see themselves staying
home, caring for the house and relaxing-and their mothers agree," said
Sandra Timmermann, EdD, director, MetLife Mature Market Institute. "These
findings point the way to lifestyle changes for tomorrow’s older women and may
influence the growth and direction of the education sector and the travel industry.
We’ll find more people traveling, taking courses and volunteering. There will
also be an increased number of older people in the workplace, unless the younger
generations’ predictions for themselves are overly ambitious."

SOURCE: MetLife Mature Market Institute (May 2007)

Source : http://www.icaa.cc

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