The New Retirement Mindscape^®

Working with Age Wave and Ken Dychtwald, one of the nation's authorities on baby boomers and retirement, as well as Harris Interactive, a leading market research firm, Ameriprise Financial launched a national telephone survey in August 2005.

• The survey sampled a nationwide cross section of 2,000 U.S. adults between the ages of 40 and 75. This total sample includes three over-samples to thoroughly understand the concerns, attitudes and behaviors in the midst of the retirement transition. Total samples in these groups are:
  • Those who have two years or less before retirement (n=125)
  • Those who are into retirement one year or less (n=135)
  • Those with $100,000 or more in investable assets (n=1,079)
• Respondents were placed into one of six categories based on the number of years before they retire or the number of years they are into retirement. Categories include: those who are 16 or more years away from retirement; Imagination (six to 15 years prior to retirement); Anticipation (up to five years prior to retirement); Liberation (one year or less after retirement); Reorientation (two to 15 years after retirement); and Reconciliation (16 years plus into retirement). The respondents within the Reorientation category were examined further by using two key variables to create four mutually exclusive segments (Empowered Reinventors, Carefree Contents, Uncertain Searchers and Worried Strugglers). The two variables were:
  1. Level of planning for any of the following activities:
     • Doing more meaningful or satisfying work
     • Continuing learning and education
     • Starting a new business or career
  2. Whether or not respondents agreed that they were living their dream in retirement.
• Results were weighted to reflect the total population of U.S. adults aged 40 to 75 on the basis of age, gender, education, race/ethnicity, income and retirement status.
• The sampling error for the overall sample results is +/- 2.2 percentage points at the 95% confidence level.
• A parallel advisor study was conducted to assess how well advisors understood the expectations and needs of their clients. A total of 400 financial advisors were surveyed by telephone in the United States in August 2005. Qualified respondents had to be a licensed advisor (Series 6 or 7) and have a minimum of five years experience in their field. A full spectrum of advisors was surveyed, including brokers, bankers, insurance agents, financial planners and investment advisors. These data are not weighted and are therefore only representative of those financial advisors surveyed.
• To lay the foundation for this groundbreaking study, focus groups were conducted by Larson Research and Strategy Consulting, Inc. in conjunction with Age Wave and Ameriprise Financial. Four focus groups with individuals were held in Los Angeles and Chicago to explore their attitudes and behaviors toward retirement.

For more information about the New Retirement Mindscape study and complete research findings, please visit ameriprise.com.

Financial advisory services and investments offered through Ameriprise Financial Services, Inc., Member FINRA & SIPC, an Ameriprise Financial company.