Statistics

  • 60% of couples have different ideas about where the bulk of their retirement income will come from (savings, pension, social security).

Source: Contemporary Retirement Counseling. “Couples Talking Retirement,” December 2009

  • More than 1/2 of couples have not thought about who would give financial guidance to the surviving spouse if the other died.

Source: Contemporary Retirement Counseling. “Couples Talking Retirement,” December 2009

  • 41% of couples disagreed about whether one or both would work during retirement.

Source: Contemporary Retirement Counseling. “Couples Talking Retirement,” December 2009

  • 39% of couples have different ideas on how much Life Insurance is sufficient.

Source: Contemporary Retirement Counseling. “Couples Talking Retirement,” December 2009

  • Men generally think they have more money than they do; women generally think they have more debt than they do.

Source: Contemporary Retirement Counseling. “Couples Talking Retirement,” December 2009

  • Husbands and wives both generally think the other earns less than they say they do (among couples who’ve been married on average 24 years, with retirement about 9 years away).

Source: Contemporary Retirement Counseling. “Couples Talking Retirement,” December 2009

  • The average length of LTC claim in 2011 was 1,040 days (up from 914 days in 2010).

Source: American Association for Long-Term Care Insurance, 2012 LTCi Sourcebook, www.altci.org

  • The largest aggregate claim paid to an LTCi beneficiary is over $3,000,000!

Source: American Association for Long-Term Care Insurance, 2012 LTCi Sourcebook, www.altci.org

  • The largest claim currently ongoing is $1.7M and counting…

Source: American Association for Long-Term Care Insurance, 2012 LTCi Sourcebook, www.altci.org

  • Alzheimer’s claims are the most Frequent, the Longest, and the most Expensive.

Source: American Association for Long-Term Care Insurance, 2012 LTCi Sourcebook, www.altci.org

  • The leading cause of claim for <65 is Cancer, while >65 is Alzheimer’s.

Source: American Association for Long-Term Care Insurance, 2012 LTCi Sourcebook, www.altci.org

  • Cardiovascular disease, cancer & diabetes cause 70% of US deaths & account for 75% of health expenditures.

Source: Kelly et al, The National Academies Press, “Promoting Cardiovascular Health in the Developing World: A Critical Challenge to Achieve Global Health,” 2010)

  • The average number of Home Visits (HHC) is 3.5 per Week.

Source: American Association for Long-Term Care Insurance, 2012 LTCi Sourcebook, www.altci.org

  • 10,000 reach retirement age every day—this will continue for 20 years.

Source: Mayo Clinic Robert and Arlene Kogod Center on Aging http://mayoresearch.mayo.edu/aging_center/aging_demographics.cfm

  • In the United States, the baby boom generation represents 76 million people.

Source: Mayo Clinic Robert and Arlene Kogod Center on Aging http://mayoresearch.mayo.edu/aging_center/aging_demographics.cfm

  • By 2030 about one in five people in the United States will be over 65.

Source: Mayo Clinic Robert and Arlene Kogod Center on Aging http://mayoresearch.mayo.edu/aging_center/aging_demographics.cfm

  • 2/3 of all people ever to reach the age of 65 are alive today.

Source: “Boom! Understanding Baby Boomer,” The Sound, September 2011

  • Over the next 20 years, 74 million boomers will retire in the United States alone.

Source: “Boom! Understanding Baby Boomer,” The Sound, September 2011

  • If you make it to 65, average male life expectancy is about 81 and female is about 84.

Source: “Understanding Life Expectancy,” Kaye Thomas http://www.fairmark.com/retirement/socsec/life-expectancy.htm

  • If you retire at 65, the average American will see 6,000 more sunrises in their lives.

Source: “Death rate down, life expectancy up,” Nanci Hellmich, USA Today, March 17, 2011

  • 27% of workers are “not at all confident” about having enough money for a comfortable retirement.

Source: “Retirement confidence survey not so confident,” AOL Finance, http://www.dailyfinance.com/2011/03/16/retirement-confidence-survey-not-so-confident

  • 58% of Americans have made no attempt whatsoever at figuring out how much they’ll need to retire.

Source: “Retirement confidence survey not so confident,” AOL Finance, http://www.dailyfinance.com/2011/03/16/retirement-confidence-survey-not-so-confident

  • 35% of Americans rely on social security alone for retirement income.

Source: “Baby Boomers Start To Turn 65: 16 Statistics About The Coming Retirement Crisis That Will Drop Your Jaw,” The American Dream, December 30, 2010

http://www.infowars.com/baby-boomers-start-to-turn-65-16-statistics-about-the-coming-retirement-crisis-that-will-drop-your-jaw/

  • The average baby boomer has saved only $38,000 for retirement.

Source: http://www.retirement-income.net/blog/retirement-savings-statistics/average-retirement-savings-all-measurements-lead-to-the-same-conclusion/

  • Life expectancy has increased by 10 years between 1950 and 2010.

Source: http://kclibrary.lonestar.edu

  • You would have 120 more monthly retirement payments in 2010 than in 1950.

Source: http://kclibrary.lonestar.edu

  • A 60-62 year old with a 401(k) has ¼ of what’s needed to keep his standard of living in retirement.

Source: National Institute on Retirement Security, Pensions and Retirement Security 2011

  • Healthcare is the second largest expense in retirement (after housing) and could be the biggest riskto the success of a retirement income plan.

Source: “Understanding Expenditure Patterns in Retirement,” The Urban Institute, 2005.

  • 20% of retired couples’ monthly expenses go toward healthcare.

Source: “Understanding Expenditure Patterns in Retirement,” The Urban Institute, 2005.

  • 60% of working adults in their 50s said they may have to delay retirement.

Source: “A Balance Sheet at 30 Months: How the Great Recession Has Changed Life in America,” Pew Research Center, June 30 2010

  • 33% of workers age 62 or older said they have already delayed their retirement.

Source: “A Balance Sheet at 30 Months: How the Great Recession Has Changed Life in America,” Pew Research Center, June 30 2010

  • 47% of 56-62 year olds won’t be able to pay for basic expenses if they retire at age 65.

Source: Employee Benefit Research Institute, 2010

  • Only 59% of Americans have access to employer-sponsored retirement plans.

Source: “A Roadmap for Policy Makers,” Pensions and Retirement Security, 2011

  • The U.S. is forecast to have over 600,000 centenarians by 2050.

Source: Census Bureau

  • 70% of people over 65 will need some type of long-term care services in their lifetime.

Source: U.S. Department of Health and Human Services

  • Healthcare is the second largest expense in retirement, after housing.

Source: “Understanding Expenditure Patterns in Retirement,” The Urban Institute, 2005

  • 33% of retirees had to use more savings and investments than expected to pay for basic expenses.

Source: “The 2011 Retirement Confidence Survey: Confidence Drops to Record Lows, Reflecting the New Normal,”

Employee Benefit Research Institute, March 2011

  • 6 in 10 Americans say they’ve taken steps in the past year to improve their financial prospects.

Source: “The Next Chapter: Meeting Investment and Retirement Challenges 2011 Study of Americans’ Current Financial Perspectives,” Prudential, 2011

  • Close to 6 in 10 feel “it’s the American way” to face challenges like retirement head-on.

Source: “The Next Chapter: Meeting Investment and Retirement Challenges 2011 Study of Americans’ Current Financial Perspectives,” Prudential, 2011

  • 72% of Americans admit they need to think differently about saving and planning for retirement.

Source: “The Next Chapter: Meeting Investment and Retirement Challenges 2011 Study of Americans’ Current Financial Perspectives,” Prudential, 2011

  • Workers with retirement plans are likely to base calculations on current living expenses.

Source: Transamerica Center for Retirement Studies, 2010

  • By 2030, 18% of the nation’s population will be at least 65.

Source: Pew Research Center

  • The 79-million-member baby boomer generation accounts for 26% of the total U.S. population.

Source: Pew Research Center

  • Half of all working adults ages 50 to 64 say they may delay their retirement.

Source: Pew Research Center

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