PLANADVISER - November/December 2017 - 22

trendspotting
Singles
Behind in
Retirement
Savings
Forty-four percent
of single people are
saving for retirement,
compared to 63%
of married people
BEING single as opposed to having the
support of a spouse puts a person at a
financial disadvantage in many ways,
TD Ameritrade found in a survey of
2,000 adults ages 37 and older.
While 44% of single people save for
retirement, about 20% more married
people do-63%. Just 34% of singles
expect to be financially secure in
retirement, compared with 52% of
married folk. Forty-six percent of the
unmarried worry about running out of
money in retirement, compared with
38% of those who are married. Thirtysix
percent
of
singles doubt
they
will be able to afford to fully retire,
compared with 29% of marrieds.
Thirty percent of singles are not
saving for anything, compared with
17% of married people, TD Ameritrade
found.
Twenty-seven percent
of singles have an emergency fund,
compared with 39% of marrieds. But
even in tough times, 40% of singles
would not cut back on eating out, and
25% would not give up buying coffee
or take-out.
Singles also earn less than their
married peers; their average income
is $52,900, compared with an average
$61,700 for marrieds-a difference of
$8,800.
" While an increasing number of
Single vs. Married People's Savings
n Singles n Couples
63%
44%
34%
Are saving
for retirement
Source: TD Ameritrade
Expect to be
financially secure
in retirement
52%
46%
38%
Worry about running
out of money
in retirement
36%
39%
29%
Don't think
they will be able
to fully retire
30%
17%
Aren't saving
for anything
Have an emergency
fund
27%
Americans are finding that remaining
single can have its virtues, there is
one key area making the single life
potentially more
difficult: money, "
says Lule Demmissie, managing
director of retirement and long-term
investing at TD Ameritrade. " Having
a spouse to split the mortgage, household
expenses and insurance can
make basic living costs more manageable.
On top of that, for couples who
file jointly, marriage can help reduce
their tax burden. " -Lee Barney
22 | planadviser.com november-december 2017 Art by Aart-Jan Venema

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PLANADVISER - November/December 2017

Table of Contents for the Digital Edition of PLANADVISER - November/December 2017

The Next Step
2017 PLANADVISER National Conference
2017 Practice Benchmarking Survey
Aggressive Plan Design
Professional Groups
The Value of Fixed Income
PLANADVISER - November/December 2017 - C1
PLANADVISER - November/December 2017 - FC1
PLANADVISER - November/December 2017 - FC2
PLANADVISER - November/December 2017 - C2
PLANADVISER - November/December 2017 - 1
PLANADVISER - November/December 2017 - 2
PLANADVISER - November/December 2017 - 3
PLANADVISER - November/December 2017 - 4
PLANADVISER - November/December 2017 - 5
PLANADVISER - November/December 2017 - 6
PLANADVISER - November/December 2017 - 7
PLANADVISER - November/December 2017 - 8
PLANADVISER - November/December 2017 - 9
PLANADVISER - November/December 2017 - 10
PLANADVISER - November/December 2017 - 11
PLANADVISER - November/December 2017 - 12
PLANADVISER - November/December 2017 - 13
PLANADVISER - November/December 2017 - 14
PLANADVISER - November/December 2017 - 15
PLANADVISER - November/December 2017 - 16
PLANADVISER - November/December 2017 - 17
PLANADVISER - November/December 2017 - 18
PLANADVISER - November/December 2017 - 19
PLANADVISER - November/December 2017 - 20
PLANADVISER - November/December 2017 - 21
PLANADVISER - November/December 2017 - 22
PLANADVISER - November/December 2017 - 23
PLANADVISER - November/December 2017 - 24
PLANADVISER - November/December 2017 - 25
PLANADVISER - November/December 2017 - 26
PLANADVISER - November/December 2017 - 27
PLANADVISER - November/December 2017 - 28
PLANADVISER - November/December 2017 - 29
PLANADVISER - November/December 2017 - The Next Step
PLANADVISER - November/December 2017 - 31
PLANADVISER - November/December 2017 - 32
PLANADVISER - November/December 2017 - 33
PLANADVISER - November/December 2017 - 2017 PLANADVISER National Conference
PLANADVISER - November/December 2017 - 35
PLANADVISER - November/December 2017 - 36
PLANADVISER - November/December 2017 - 37
PLANADVISER - November/December 2017 - 38
PLANADVISER - November/December 2017 - 39
PLANADVISER - November/December 2017 - 40
PLANADVISER - November/December 2017 - 41
PLANADVISER - November/December 2017 - 42
PLANADVISER - November/December 2017 - 43
PLANADVISER - November/December 2017 - 44
PLANADVISER - November/December 2017 - 45
PLANADVISER - November/December 2017 - 2017 Practice Benchmarking Survey
PLANADVISER - November/December 2017 - 47
PLANADVISER - November/December 2017 - 48
PLANADVISER - November/December 2017 - 49
PLANADVISER - November/December 2017 - 50
PLANADVISER - November/December 2017 - 51
PLANADVISER - November/December 2017 - 52
PLANADVISER - November/December 2017 - 53
PLANADVISER - November/December 2017 - Aggressive Plan Design
PLANADVISER - November/December 2017 - 55
PLANADVISER - November/December 2017 - 56
PLANADVISER - November/December 2017 - Professional Groups
PLANADVISER - November/December 2017 - 58
PLANADVISER - November/December 2017 - 59
PLANADVISER - November/December 2017 - The Value of Fixed Income
PLANADVISER - November/December 2017 - 61
PLANADVISER - November/December 2017 - 62
PLANADVISER - November/December 2017 - 63
PLANADVISER - November/December 2017 - 64
PLANADVISER - November/December 2017 - C3
PLANADVISER - November/December 2017 - C4
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