September 2007

QuickFACTS

"Onceaday,complimenta stranger."
ElizabethShaw
From the MetLife Mature Market Institute
www.MatureMarketInstitute.com
I n f o r m at I o n
a b o u t r e t I r e m e n t , l o n g - t e r m c a r e , a n d t h e m at u r e m a r k e t
Welcometo QuickFACTS,amonthlyfactsheetproducedbyMetLife'sMatureMarketInstitute.Ourfocusisthe emergingmarketofpeople50+.Wecompilerecentnewsanddevelopmentsonretirement,aging,andlong-term careissuesthatimpactourbusinessandourcustomers.Ideasandcommentsfortheeditorarewelcomeat kobrien@metlife.comorbyphone,203-454-5386.
Global Economy Benefits by the Billions from People Age 40-79
Throughvolunteering,individualsage40-79arecontributingbillionsofdollars totheglobaleconomy,accordingtoasurveyof21,000peopleofthatagegroup in21countriesandterritories.IntheUnitedKingdomalone,individualsage60+ contributeroughly18millionhoursperweek,or792millionhoursperyear. InEuropeandNorthAmerica,peoplegivemoretimeastheyage,withpeople intheir60sand70sgenerallycontributingthemosttime.■
TheFutureofRetirement:TheNewOldAge HSBCInsuranceandtheOxfordInstituteonAgeing 2007 https://www.ageingforum.org/files/8/uk_reports_2007/entry398.aspx
Social Security and Retirement
AGAOanalysisfoundthatdespiteSocialSecurity'sfullretirementagebeingsetat65andabove,46%of workerswhoparticipatedintheUniversityofMichigan'sHealthandRetirementSurveyreporttheyhad completelyretiredbeforetheir63rdbirthday.Additionally,SocialSecurityAdministrationdata,looking atrecipientsbornbetween1935and1940,showsthat62remainsthemedianretirementage,with50%of recipientsretiringbeforeage621/2.■
RetirementDecisions:FederalPolicesOfferMixedSignalsAboutWhentoRetire UnitedStatesGovernmentAccountabilityOffice(GAO) ReporttoCongressionalCommittees July2007 www.gao.gov/new.items/d07753.pdf
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