AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED DOI AARP RESEARCH
A Survey for the AARP Ad Council Saving for Retirement
Campaign
January 2019
httpsdoiorg1026419res00272001
RETIREMENT SAVINGS PRIORITIES
STRATEGIES AND BARRIERS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 2
Introduction 3
Key Findings 5
Detailed Findings 7
Implications 16
Methodology 18
Contact 21
Table of Contents
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 3
INTRODUCTION
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Introduction
4
This survey of moderate-income working adults ages 40-59 was conducted for the AAARPAd
Council Saving for Retirement Campaign from November 28 through December 5 2018
The survey takes a fresh look at recent experiences with and attitudes toward retirement saving
including
bull How many set retirement savings goals in 2018
bull How many were able to save for retirement in 2018
bull For those who didnrsquot save or who didnrsquot meet their goals what were the barriers to saving
bull What are their savings priorities for 2019 and how does retirement saving compare to other
savings priorities
bull In their lifetime do they think theyrsquore more or less likely to learn that Bigfoot has been
confirmed real or save enough for a comfortable retirement
The AARPAd Council Saving for Retirement Campaign which was originally launched in 2017 at
AceYourRetirementOrg offers a quick and easy retirement planning resource ndash in just about
three minutes users can chat with a friendly digital retirement coach Avo to get their
personalized action plan
The survey sample included 1611 employed adults ages 40-59 with household incomes from $40000 to $99999
For more information about the sample see the Methodology section
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 5
KEY FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Key FindingsFewer than half (47) of moderate-income working adults ages 40-59 say retirement is
one of their top three savings priorities for 2019 When asked for their 1 savings
priority for 2019 respondents most commonly cite paying off debt (33) followed by
saving for retirement (21)
Nearly 3 in 10 (28) think theyrsquore more likely to learn Bigfoot is real than to save enough
for retirement
Seven in ten (69) saved at least some money for retirement in 2018
Four in ten (40) set a retirement savings goal in 2018
Those who set retirement savings goals were more likely to save than those who did
not set goals Of those who set a retirement savings goal 84 were able to save some
money for retirement in 2018 Of those who did not set a goal just 60 saved some
money for retirement
Among those who saved for retirement last year nearly half (48) set a retirement
savings goal Other strategies used by retirement savers last year include
bull Increasing contributions to their employer-sponsored retirement plan to get the full
match (27)
bull Putting extra income raises or bonuses directly into retirement savings (18)
bull Cutting back on everyday expenses and spending (17)
6
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 7
DETAILED FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
More Than Half Cite Paying Off Debt Among Their Top Three
Savings Priorities for 2019
55
47
46
39
30
16
13
10
7
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a car
My childrens college expenses
Buying a home
None of these
8
bull The focus on paying off debt is particularly high among women (60 vs 51 among men)
bull Overall building retirement funds is on par with setting up an emergency fund in terms of top three 2019 priorities
bull Adults ages 50-59 are especially likely to be focusing on their retirement fund (58 vs 37 of adults ages 40-49)
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1 2 or 3]
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 58
Age 40-49 37
Paying Off Debt
60
51
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
The 1 Savings Priority Highlights Focus on Paying Off Debt
9
bull Adults age 50-59 (29) are more than twice as likely as adults ages 40-49 (13) to identify building a retirement fund
as their 1 savings priority
bull Among those ages 50-59 paying off debt (31) and building up a retirement fund (29) are nearly tied for the most
common 1 savings priority
33
21
11
9
5
5
4
4
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a home
Buying a car
My childrens college expenses
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1] Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 29
Age 40-49 13
Ages 50-59
Paying off a significant debt 31
Building up my retirement fund 29
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 2
Introduction 3
Key Findings 5
Detailed Findings 7
Implications 16
Methodology 18
Contact 21
Table of Contents
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 3
INTRODUCTION
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Introduction
4
This survey of moderate-income working adults ages 40-59 was conducted for the AAARPAd
Council Saving for Retirement Campaign from November 28 through December 5 2018
The survey takes a fresh look at recent experiences with and attitudes toward retirement saving
including
bull How many set retirement savings goals in 2018
bull How many were able to save for retirement in 2018
bull For those who didnrsquot save or who didnrsquot meet their goals what were the barriers to saving
bull What are their savings priorities for 2019 and how does retirement saving compare to other
savings priorities
bull In their lifetime do they think theyrsquore more or less likely to learn that Bigfoot has been
confirmed real or save enough for a comfortable retirement
The AARPAd Council Saving for Retirement Campaign which was originally launched in 2017 at
AceYourRetirementOrg offers a quick and easy retirement planning resource ndash in just about
three minutes users can chat with a friendly digital retirement coach Avo to get their
personalized action plan
The survey sample included 1611 employed adults ages 40-59 with household incomes from $40000 to $99999
For more information about the sample see the Methodology section
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 5
KEY FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Key FindingsFewer than half (47) of moderate-income working adults ages 40-59 say retirement is
one of their top three savings priorities for 2019 When asked for their 1 savings
priority for 2019 respondents most commonly cite paying off debt (33) followed by
saving for retirement (21)
Nearly 3 in 10 (28) think theyrsquore more likely to learn Bigfoot is real than to save enough
for retirement
Seven in ten (69) saved at least some money for retirement in 2018
Four in ten (40) set a retirement savings goal in 2018
Those who set retirement savings goals were more likely to save than those who did
not set goals Of those who set a retirement savings goal 84 were able to save some
money for retirement in 2018 Of those who did not set a goal just 60 saved some
money for retirement
Among those who saved for retirement last year nearly half (48) set a retirement
savings goal Other strategies used by retirement savers last year include
bull Increasing contributions to their employer-sponsored retirement plan to get the full
match (27)
bull Putting extra income raises or bonuses directly into retirement savings (18)
bull Cutting back on everyday expenses and spending (17)
6
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 7
DETAILED FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
More Than Half Cite Paying Off Debt Among Their Top Three
Savings Priorities for 2019
55
47
46
39
30
16
13
10
7
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a car
My childrens college expenses
Buying a home
None of these
8
bull The focus on paying off debt is particularly high among women (60 vs 51 among men)
bull Overall building retirement funds is on par with setting up an emergency fund in terms of top three 2019 priorities
bull Adults ages 50-59 are especially likely to be focusing on their retirement fund (58 vs 37 of adults ages 40-49)
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1 2 or 3]
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 58
Age 40-49 37
Paying Off Debt
60
51
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
The 1 Savings Priority Highlights Focus on Paying Off Debt
9
bull Adults age 50-59 (29) are more than twice as likely as adults ages 40-49 (13) to identify building a retirement fund
as their 1 savings priority
bull Among those ages 50-59 paying off debt (31) and building up a retirement fund (29) are nearly tied for the most
common 1 savings priority
33
21
11
9
5
5
4
4
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a home
Buying a car
My childrens college expenses
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1] Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 29
Age 40-49 13
Ages 50-59
Paying off a significant debt 31
Building up my retirement fund 29
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 3
INTRODUCTION
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Introduction
4
This survey of moderate-income working adults ages 40-59 was conducted for the AAARPAd
Council Saving for Retirement Campaign from November 28 through December 5 2018
The survey takes a fresh look at recent experiences with and attitudes toward retirement saving
including
bull How many set retirement savings goals in 2018
bull How many were able to save for retirement in 2018
bull For those who didnrsquot save or who didnrsquot meet their goals what were the barriers to saving
bull What are their savings priorities for 2019 and how does retirement saving compare to other
savings priorities
bull In their lifetime do they think theyrsquore more or less likely to learn that Bigfoot has been
confirmed real or save enough for a comfortable retirement
The AARPAd Council Saving for Retirement Campaign which was originally launched in 2017 at
AceYourRetirementOrg offers a quick and easy retirement planning resource ndash in just about
three minutes users can chat with a friendly digital retirement coach Avo to get their
personalized action plan
The survey sample included 1611 employed adults ages 40-59 with household incomes from $40000 to $99999
For more information about the sample see the Methodology section
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 5
KEY FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Key FindingsFewer than half (47) of moderate-income working adults ages 40-59 say retirement is
one of their top three savings priorities for 2019 When asked for their 1 savings
priority for 2019 respondents most commonly cite paying off debt (33) followed by
saving for retirement (21)
Nearly 3 in 10 (28) think theyrsquore more likely to learn Bigfoot is real than to save enough
for retirement
Seven in ten (69) saved at least some money for retirement in 2018
Four in ten (40) set a retirement savings goal in 2018
Those who set retirement savings goals were more likely to save than those who did
not set goals Of those who set a retirement savings goal 84 were able to save some
money for retirement in 2018 Of those who did not set a goal just 60 saved some
money for retirement
Among those who saved for retirement last year nearly half (48) set a retirement
savings goal Other strategies used by retirement savers last year include
bull Increasing contributions to their employer-sponsored retirement plan to get the full
match (27)
bull Putting extra income raises or bonuses directly into retirement savings (18)
bull Cutting back on everyday expenses and spending (17)
6
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 7
DETAILED FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
More Than Half Cite Paying Off Debt Among Their Top Three
Savings Priorities for 2019
55
47
46
39
30
16
13
10
7
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a car
My childrens college expenses
Buying a home
None of these
8
bull The focus on paying off debt is particularly high among women (60 vs 51 among men)
bull Overall building retirement funds is on par with setting up an emergency fund in terms of top three 2019 priorities
bull Adults ages 50-59 are especially likely to be focusing on their retirement fund (58 vs 37 of adults ages 40-49)
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1 2 or 3]
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 58
Age 40-49 37
Paying Off Debt
60
51
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
The 1 Savings Priority Highlights Focus on Paying Off Debt
9
bull Adults age 50-59 (29) are more than twice as likely as adults ages 40-49 (13) to identify building a retirement fund
as their 1 savings priority
bull Among those ages 50-59 paying off debt (31) and building up a retirement fund (29) are nearly tied for the most
common 1 savings priority
33
21
11
9
5
5
4
4
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a home
Buying a car
My childrens college expenses
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1] Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 29
Age 40-49 13
Ages 50-59
Paying off a significant debt 31
Building up my retirement fund 29
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Introduction
4
This survey of moderate-income working adults ages 40-59 was conducted for the AAARPAd
Council Saving for Retirement Campaign from November 28 through December 5 2018
The survey takes a fresh look at recent experiences with and attitudes toward retirement saving
including
bull How many set retirement savings goals in 2018
bull How many were able to save for retirement in 2018
bull For those who didnrsquot save or who didnrsquot meet their goals what were the barriers to saving
bull What are their savings priorities for 2019 and how does retirement saving compare to other
savings priorities
bull In their lifetime do they think theyrsquore more or less likely to learn that Bigfoot has been
confirmed real or save enough for a comfortable retirement
The AARPAd Council Saving for Retirement Campaign which was originally launched in 2017 at
AceYourRetirementOrg offers a quick and easy retirement planning resource ndash in just about
three minutes users can chat with a friendly digital retirement coach Avo to get their
personalized action plan
The survey sample included 1611 employed adults ages 40-59 with household incomes from $40000 to $99999
For more information about the sample see the Methodology section
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 5
KEY FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Key FindingsFewer than half (47) of moderate-income working adults ages 40-59 say retirement is
one of their top three savings priorities for 2019 When asked for their 1 savings
priority for 2019 respondents most commonly cite paying off debt (33) followed by
saving for retirement (21)
Nearly 3 in 10 (28) think theyrsquore more likely to learn Bigfoot is real than to save enough
for retirement
Seven in ten (69) saved at least some money for retirement in 2018
Four in ten (40) set a retirement savings goal in 2018
Those who set retirement savings goals were more likely to save than those who did
not set goals Of those who set a retirement savings goal 84 were able to save some
money for retirement in 2018 Of those who did not set a goal just 60 saved some
money for retirement
Among those who saved for retirement last year nearly half (48) set a retirement
savings goal Other strategies used by retirement savers last year include
bull Increasing contributions to their employer-sponsored retirement plan to get the full
match (27)
bull Putting extra income raises or bonuses directly into retirement savings (18)
bull Cutting back on everyday expenses and spending (17)
6
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 7
DETAILED FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
More Than Half Cite Paying Off Debt Among Their Top Three
Savings Priorities for 2019
55
47
46
39
30
16
13
10
7
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a car
My childrens college expenses
Buying a home
None of these
8
bull The focus on paying off debt is particularly high among women (60 vs 51 among men)
bull Overall building retirement funds is on par with setting up an emergency fund in terms of top three 2019 priorities
bull Adults ages 50-59 are especially likely to be focusing on their retirement fund (58 vs 37 of adults ages 40-49)
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1 2 or 3]
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 58
Age 40-49 37
Paying Off Debt
60
51
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
The 1 Savings Priority Highlights Focus on Paying Off Debt
9
bull Adults age 50-59 (29) are more than twice as likely as adults ages 40-49 (13) to identify building a retirement fund
as their 1 savings priority
bull Among those ages 50-59 paying off debt (31) and building up a retirement fund (29) are nearly tied for the most
common 1 savings priority
33
21
11
9
5
5
4
4
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a home
Buying a car
My childrens college expenses
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1] Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 29
Age 40-49 13
Ages 50-59
Paying off a significant debt 31
Building up my retirement fund 29
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 5
KEY FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Key FindingsFewer than half (47) of moderate-income working adults ages 40-59 say retirement is
one of their top three savings priorities for 2019 When asked for their 1 savings
priority for 2019 respondents most commonly cite paying off debt (33) followed by
saving for retirement (21)
Nearly 3 in 10 (28) think theyrsquore more likely to learn Bigfoot is real than to save enough
for retirement
Seven in ten (69) saved at least some money for retirement in 2018
Four in ten (40) set a retirement savings goal in 2018
Those who set retirement savings goals were more likely to save than those who did
not set goals Of those who set a retirement savings goal 84 were able to save some
money for retirement in 2018 Of those who did not set a goal just 60 saved some
money for retirement
Among those who saved for retirement last year nearly half (48) set a retirement
savings goal Other strategies used by retirement savers last year include
bull Increasing contributions to their employer-sponsored retirement plan to get the full
match (27)
bull Putting extra income raises or bonuses directly into retirement savings (18)
bull Cutting back on everyday expenses and spending (17)
6
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 7
DETAILED FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
More Than Half Cite Paying Off Debt Among Their Top Three
Savings Priorities for 2019
55
47
46
39
30
16
13
10
7
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a car
My childrens college expenses
Buying a home
None of these
8
bull The focus on paying off debt is particularly high among women (60 vs 51 among men)
bull Overall building retirement funds is on par with setting up an emergency fund in terms of top three 2019 priorities
bull Adults ages 50-59 are especially likely to be focusing on their retirement fund (58 vs 37 of adults ages 40-49)
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1 2 or 3]
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 58
Age 40-49 37
Paying Off Debt
60
51
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
The 1 Savings Priority Highlights Focus on Paying Off Debt
9
bull Adults age 50-59 (29) are more than twice as likely as adults ages 40-49 (13) to identify building a retirement fund
as their 1 savings priority
bull Among those ages 50-59 paying off debt (31) and building up a retirement fund (29) are nearly tied for the most
common 1 savings priority
33
21
11
9
5
5
4
4
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a home
Buying a car
My childrens college expenses
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1] Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 29
Age 40-49 13
Ages 50-59
Paying off a significant debt 31
Building up my retirement fund 29
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Key FindingsFewer than half (47) of moderate-income working adults ages 40-59 say retirement is
one of their top three savings priorities for 2019 When asked for their 1 savings
priority for 2019 respondents most commonly cite paying off debt (33) followed by
saving for retirement (21)
Nearly 3 in 10 (28) think theyrsquore more likely to learn Bigfoot is real than to save enough
for retirement
Seven in ten (69) saved at least some money for retirement in 2018
Four in ten (40) set a retirement savings goal in 2018
Those who set retirement savings goals were more likely to save than those who did
not set goals Of those who set a retirement savings goal 84 were able to save some
money for retirement in 2018 Of those who did not set a goal just 60 saved some
money for retirement
Among those who saved for retirement last year nearly half (48) set a retirement
savings goal Other strategies used by retirement savers last year include
bull Increasing contributions to their employer-sponsored retirement plan to get the full
match (27)
bull Putting extra income raises or bonuses directly into retirement savings (18)
bull Cutting back on everyday expenses and spending (17)
6
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 7
DETAILED FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
More Than Half Cite Paying Off Debt Among Their Top Three
Savings Priorities for 2019
55
47
46
39
30
16
13
10
7
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a car
My childrens college expenses
Buying a home
None of these
8
bull The focus on paying off debt is particularly high among women (60 vs 51 among men)
bull Overall building retirement funds is on par with setting up an emergency fund in terms of top three 2019 priorities
bull Adults ages 50-59 are especially likely to be focusing on their retirement fund (58 vs 37 of adults ages 40-49)
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1 2 or 3]
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 58
Age 40-49 37
Paying Off Debt
60
51
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
The 1 Savings Priority Highlights Focus on Paying Off Debt
9
bull Adults age 50-59 (29) are more than twice as likely as adults ages 40-49 (13) to identify building a retirement fund
as their 1 savings priority
bull Among those ages 50-59 paying off debt (31) and building up a retirement fund (29) are nearly tied for the most
common 1 savings priority
33
21
11
9
5
5
4
4
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a home
Buying a car
My childrens college expenses
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1] Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 29
Age 40-49 13
Ages 50-59
Paying off a significant debt 31
Building up my retirement fund 29
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 7
DETAILED FINDINGS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
More Than Half Cite Paying Off Debt Among Their Top Three
Savings Priorities for 2019
55
47
46
39
30
16
13
10
7
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a car
My childrens college expenses
Buying a home
None of these
8
bull The focus on paying off debt is particularly high among women (60 vs 51 among men)
bull Overall building retirement funds is on par with setting up an emergency fund in terms of top three 2019 priorities
bull Adults ages 50-59 are especially likely to be focusing on their retirement fund (58 vs 37 of adults ages 40-49)
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1 2 or 3]
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 58
Age 40-49 37
Paying Off Debt
60
51
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
The 1 Savings Priority Highlights Focus on Paying Off Debt
9
bull Adults age 50-59 (29) are more than twice as likely as adults ages 40-49 (13) to identify building a retirement fund
as their 1 savings priority
bull Among those ages 50-59 paying off debt (31) and building up a retirement fund (29) are nearly tied for the most
common 1 savings priority
33
21
11
9
5
5
4
4
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a home
Buying a car
My childrens college expenses
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1] Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 29
Age 40-49 13
Ages 50-59
Paying off a significant debt 31
Building up my retirement fund 29
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
More Than Half Cite Paying Off Debt Among Their Top Three
Savings Priorities for 2019
55
47
46
39
30
16
13
10
7
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a car
My childrens college expenses
Buying a home
None of these
8
bull The focus on paying off debt is particularly high among women (60 vs 51 among men)
bull Overall building retirement funds is on par with setting up an emergency fund in terms of top three 2019 priorities
bull Adults ages 50-59 are especially likely to be focusing on their retirement fund (58 vs 37 of adults ages 40-49)
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1 2 or 3]
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 58
Age 40-49 37
Paying Off Debt
60
51
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
The 1 Savings Priority Highlights Focus on Paying Off Debt
9
bull Adults age 50-59 (29) are more than twice as likely as adults ages 40-49 (13) to identify building a retirement fund
as their 1 savings priority
bull Among those ages 50-59 paying off debt (31) and building up a retirement fund (29) are nearly tied for the most
common 1 savings priority
33
21
11
9
5
5
4
4
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a home
Buying a car
My childrens college expenses
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1] Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 29
Age 40-49 13
Ages 50-59
Paying off a significant debt 31
Building up my retirement fund 29
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
The 1 Savings Priority Highlights Focus on Paying Off Debt
9
bull Adults age 50-59 (29) are more than twice as likely as adults ages 40-49 (13) to identify building a retirement fund
as their 1 savings priority
bull Among those ages 50-59 paying off debt (31) and building up a retirement fund (29) are nearly tied for the most
common 1 savings priority
33
21
11
9
5
5
4
4
Paying off a significant debt such as a credit cardstudent loan or mortgage
Building up my retirement fund
Building up my emergency fund
Home repairsimprovements
Vacationtravel
Buying a home
Buying a car
My childrens college expenses
Q1 Of the following items which if any are your top savings priorities for 2019 Please rank your top three priorities where ldquo1rdquo is your top priority
[Chart displays percentage of respondents who selected each item as priority 1] Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Building
Retirement Fund
Age 50-59 29
Age 40-49 13
Ages 50-59
Paying off a significant debt 31
Building up my retirement fund 29
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Meeting Basic Expenses Was the Main Barrier to Saving for Retirement
10
bull Among those who did not save for retirement in 2018 or did not save enough to meet their 2018 goal taking care of
here-and-now expenses represented the main barrier to saving
Q5 What was the primary reason you werenrsquot able to save for retirement or werenrsquot able to save as much for retirement
as you wanted to in 2018 Base Employed adults ages 40-59 with household incomes from $40000 to $99999 who did not save money for retirement in 2018 or did not save enough to meet
their 2018 goal (n=667)
53
37
10
7
3
10
I did not have enough left over after basic expenses(eg housing food)
Unexpected expenses came up
My savings priorities changed
I just never got around to it
I wasnt sure what steps to take next
None of these
Barriers to Saving for Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Most Were Able to Save for Retirement in 2018
11
bull Seven in ten (69) were able to save some money for retirement in 2018 climbing to three-quarters among higher-
income households
Q2 Were you able to save any money for retirement in 2018
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
Yes 69
No 30
Were you able to save any money for retirement in 2018
Yes
$40000 - $74999
$75000 - $99999
66
75
Household Income
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Those Who Set a Retirement Savings Goal Were More Likely to Save
12
bull In all four in ten (40) respondents set a goal related to saving for retirement in 2018
bull More than eight in ten (84) of those who set a retirement savings goal last year actually saved some money for
retirement in 2018 compared to just six in ten (60) of those who did not set a goal
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999) Charts display calculations from the following questions Q3a (asked of retirement
savers) Which of these statements best describe you This past year I set a goal related to saving for retirement and successfully reached my goal This past year I set a goal related to
saving for retirement and although I did not reach my goal I was able to save for retirement This past year I did not set a goal related to saving for retirement but I did save for retirement
Q3b (asked of those who did not save for retirement in 2018) Which of these statements best describe you This past year I set a goal related to saving for retirement but was not able to
save anything for retirement This past year I did not set a goal related to saving for retirement and I did not save for retirement
Yes 40
No 60
How many set a retirement savings goal
in 2018
84
60
16
40
Those Who Set A Retirement SavingsGoal (n=639)
Those Who Did NOT Set a RetirementSavings Goal (n=962)
Were you able to save any money for retirement in 2018
Yes No
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Retirement Savers Focus on Getting Their Employerrsquos Full Match
Putting Away Extra Money for Retirement and Reducing Expenses
13
bull Nearly half (48) of those who saved for retirement in 2018 set a retirement savings goal last year
bull Other steps that retirement savers took in 2018 to help themselves save included increasing their contribution to their
employer-sponsored plan in order to qualify for their employerrsquos full match putting extra income directly into their retirement
savings (18) and reducing expenses and spending so that they could increase their retirement savings contributions (17)
Bar chart displays responses to Q4 What did you do in 2018 that helped you save for retirement Base Employed adults
ages 40-59 with household incomes from $40000 to $99999 who saved money for retirement in 2018 (n=1186)
27
18
17
10
9
8
6
33
I increased my contribution rate to my employer-sponsored retirementplan so that I could get the full amount that my company matches
I got a raise bonus or extra income and put all or some of it directlyinto my retirement savings
I reduced my everyday expenses and spending so I could increase mycontributions to my retirement savings account
I maxed out my contributions to my retirement accounts to the full limitallowed by the IRS
I made additional catch-up contributions to my retirement accounts asallowed by the IRS (50+ only n=681)
I set up for the first time automatic transfers from my paycheck or bankaccount to my retirement savings
I rolled over an old retirement plan (like 401(k) or 403(b) into my IRA ormy new employers plan
None of these
Strategies Used to Save for Retirement
Set a goal 48
Did NOT set a goal 52
How many retirement savers in 2018 set a goal
Pie Chart displays calculations from Q3a
Base Employed adults ages 40-59 with household incomes from
$40000 to $99999 who saved for retirement in 2018 (n=1186)
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
30
30
40
37
28
7
7
6
5
7
63
63
54
58
65
I will run a marathon
I will get a personal robot assistant
An astronaut will walk on Mars
Disco will come back in style
Bigfoot will be confirmed real
Itrsquos More Likely That
Selected Red Scenario Refused I will save enough to retire comfortably
I will save enough to retire
comfortably
14
bull Adults with lower household incomes were more likely than those with higher incomes to feel this way (31 of those
with incomes from $40000 to $74999 compared to 25 of those with incomes from $75000 to $99999)
Q6 Within my lifetime itrsquos more likely thathellip
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
For Nearly 3 in 10 (28) the Likelihood of Bigfoot Being Confirmed Real Seems Higher than
the Likelihood of Saving Enough for a Comfortable Retirement
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Volunteering Ranks High in Interest if They Were to Retire in 2019
15
bull There is interest in enjoying the outdoors while unplugging from technology (15)
bull A smattering of new learnings and experiences round out retirement interests
Q7 If you could retire in 2019 which of the following would you most want to do next
Base Full Sample (1611 employed adults ages 40-59 with household incomes from $40000 to $99999)
21
15
7
5
4
3
2
2
2
2
37
Volunteer for a good cause
Unplug from technology for a month and enjoy nature
Ride a motorcycle across the country
Learn a new language
Write a novel
Start a charitable organization
Go skydiving
Open a Bed amp Breakfast
Train to run a marathon
Cook every recipe in my favorite cookbook
None of these
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 16
IMPLICATIONS
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Implications
Moderate-income working adults ages 40-59 face a variety of financial
pressures including the challenge of covering basic expenses and
unexpected expenses as well as paying off significant debts As a
result building a retirement fund often takes a back seat to more
immediate financial needs
However despite these challenges most adults in this age group were
able to save something for retirement last year The survey suggests
that the mere act of setting a retirement savings goal may be an
important step in getting people to focus on the longer-term and save
for retirement Other strategies that appear useful include putting part
or all of bonuses or extra income directly into retirement savings
accounts and reducing everyday expenses and spending
Although many face competing financial demands that may interfere
with retirement savings these survey results suggest that certain
behaviors along with goal setting may hold promise for building
retirement saving
17
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 18
METHODOLOGY
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
Methodology
bull Objectives To explore the steps that moderate-income working
adults ages 40-59 took in 2018 to save for retirement as well as the
role of goal setting and the barriers to building retirement savings
bull Methodology Online survey via the Ipsos KnowledgePanelreg with
sample targeting panelists age 40-59
bull Qualifications Age 40-59 employed household income of $40000
to $99999
bull Sample Size n=1611
bull Interviewing Dates November 28-December 5 2018
bull Weighting The data is weighted by gender age raceethnicity
education region income and metro area to be nationally
representative of employed adults ages 40-59 with household
incomes of $40000- $99999
bull Questionnaire length Overall 5 minutes (median)
bull Confidence Interval Total sample +- 329 percentage points
19
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH 20
About AARPAARP is the nationrsquos largest nonprofit nonpartisan organization dedicated to empowering Americans 50 and older to
choose how they live as they age With nearly 38 million members and offices in every state the District of Columbia
Puerto Rico and the US Virgin Islands AARP works to strengthen communities and advocate for what matters most
to families with a focus on health security financial stability and personal fulfillment AARP also works for individuals in
the marketplace by sparking new solutions and allowing carefully chosen high-quality products and services to carry
the AARP name As a trusted source for news and information AARP produces the nations largest circulation
publications AARP The Magazine and AARP Bulletin To learn more visit wwwaarporg or follow AARP and
AARPadvocates on social media
The Ad Council brings together the most creative minds in advertising and media to address the most worthy causes
Its innovative pro bono social good campaigns raise awareness They inspire action They save lives To learn more
visit AdCouncilorg follow the Ad Councilrsquos communities on Facebook and Twitter and view the creative on YouTube
About The Ad Council
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
AARPORGRESEARCH | copy 2019 AARP ALL RIGHTS RESERVED AARP RESEARCH
S Kathi Brown AARP Research
skbrownaarporg
For media inquiries please contact mediaaarporg
This research was designed by the Ad Council and AARP
21
Top Related