nielsen-global-aging-report-february-2014

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ARE WEWORKAHOLICSOR UNPREPAREDFOR RETIREMENT?Just under half (47%) of global respondents in Nielsen’s survey indicatethat their planned/actual retirement age is the same as their idealretirement age. More than twice as many say their ideal retirement ageis younger (36%) than what they planned compared to those who sayit is older (17%). So what’s the disconnect between wanting/needing tostay employed when we hit the upper age ranges? It’s likely a matter offinances.Thirty percent of global respondents do not believe they will be betterfinancially equipped when they retire than their parents were when theyretired. More than half in Europe (56%) and nearly four in 10 in NorthAmerica (38%) believe they will not have the financial resources theirparents enjoyed in retirement. Conversely, a more secure financial futureis expected among more than three-quarters of respondents in Asia-Pacific (82%), Latin America (79%) and nearly that many in the MiddleEast/Africa (74%), who say their finances will be more substantial thanthose of the previous generation.This reversal of fortunes provides context for why greater percentagesof respondents in North America and Europe are planning to work wellinto their 70s. Forty-one percent of North Americans and 30 percentof Europeans plan to retire past the age of 65, compared to the globalaverage of 23 percent. Asia-Pacific respondents skew youngest when itcomes to retirement intentions, with three-quarters (74%) planning toretire between the ages of 50 and 65.Personal savings and investments will fund retirement for more thanhalf in Asia-Pacific (56%) and in the Middle East/Africa (54%). Almosthalf of Europeans (49%) will rely on government-run plans, which isalmost double the global average of 26 percent. In North America andLatin America, a mix of company retirement plans, government-runplans and personal saving/investments will by the primary sources ofincome in retirement.10 THE AGE GAP
IDEAL RETIRMENT AGE IS YOUNGER THAN ACTUAL/PLANNEDAGE FOR MORE THAN ONE-THIRD GLOBALLY45%37%37%31%27%36%GLOBALAVERAGEEUROPELATINAMERICANORTHAMERICAASIA-PACIFICMIDDLE EAST/AFRICAPERCENT LESS FINANCIALLY PREPARED FORRETIREMENT COMPARED TO PARENTS56%38%26%21%18%EUROPENORTHAMERICAMIDDLE EAST/AFRICALATINAMERICAASIA-PACIFICSource: Nielsen Global Survey About Aging, Q3 2013Copyright © 2014 The Nielsen Company11
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Page 19 and 20: ABOUT THE NIELSEN GLOBAL SURVEYThe

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