Marriage & Money Survey Attitudes towards money, marriage and retirement 1
TABLE OF CONTENTS MARRIED LIFE..... FINANCIAL HABITS......... RETIRING TOGETHER... APPENDIX....... 3 6 11 17 Millions of investors and independent registered investment advisors (RIAs) have turned to TD Ameritrade s (Nasdaq: AMTD) technology, people, and education to help make investing and trading easier to understand and do. Online or over the phone. In a branch or with an independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how-bringing Wall Street to Main Street for more than 40 years. TD Ameritrade has time and again been recognized as a leader in investment services. Please visit the TD Ameritrade newsroom or www.amtd.com for more information. Brokerage services provided by TD Ameritrade, Inc., member FINRA (www.finra.org)/sipc ( www.sipc.org). 2
Life 3
Almost 4 in 10 (37%) Americans report paying more attention to their finances as a result of getting married Three in 10 Americans report starting to save more money (30%) and worry more about the future (27%) in both cases, men are more likely than women to agree with each statement % Which of the following happened to you, financially, when you got married? I started paying more attention to our finances 37 I started saving more money I started to worry more about the future I started spending more money 18 27 30 Male: 33%; Female: 28% Male: 32%; Female: 22% I started spending less money 10 I started saving less money 9 I became more risk averse 8 Male: 11%; Female: 6% I started to worry less about the future 6 I became less risk averse I stopped working 5 5 Male: 1%; Female: 8% My spouse stopped working I started working 4 4 Male: 7%; Female: 2% My spouse started working 3 I started paying less attention to our finances 2 None of the above 22 Q215. Base: All n=1,011; Males (n=471), Females (n=540) 4
Three in 10 Americans say that the moral support that keeps each other on track is the biggest financial benefit of getting married And which of the following do you think is the single biggest financial benefit to getting married? % Unmarried 'Moral support'/keeping each other on track/on budget 17 30 Splitting the household bills One partner may be able to stop work to provide childcare or be an adult caregiver (i.e. less need for hired help) 5 12 13 26 Male: 23%; Female: 29% More tax benefits 13 11 Shared health insurance 4 7 Easier to save money 5 6 More social security options 2 3 Easier to pay off debt 3 3 Lower car insurance premiums 1 0 None of the above 15 24 0 5 10 15 20 25 30 35 Q205. Base: All n=1,011; All Unmarried n=1,008; Unmarried Males (n=389), Unmarried Females (n=619) Arrows indicate a significant difference between and Unmarried at 95% confidence 5
Financial Habits 6
Four in ten (44%) of Americans have argued about money in the past year On average, Americans have argued with their spouse about money four times in the past year. How many times have you and your spouse argued about money over the past year, if at all? % 80 60 56 Average # times: 4.3 40 20 20 8 10 6 0 Never Once or twice Three or four times Five to 10 times More than 10 times Q250. Base: All n=1,011 7
Two-thirds of (66%) Americans are financially faithful to their spouses and 6 in 10 (61%) believe their spouse is equally financially faithful to them men are more likely than women to say they are entirely financially faithful to their spouse (73%, 60%). Women are more likely than men to state they are mostly financially faithful to their spouse (33%, 24%) Are you "financially faithful" to your spouse that is, does your spouse know everything about how you spend and save your money, and you keep no secrets from him/her? And do you think your spouse is financially faithful to you? % I am My Spouse is Entirely financially faithful Mostly financially faithful Not very financially faithful Not financially faithful at all Male: 3%; Female: 7% 2% 3% 3% 5% Male: 24% Female: 33% 29% 66% Male: 73% Female: 60% 31% 61% Q260/Q261. Base: All n=1,011; Males (n=471), Females (n=540) 8
Three in 10 (30%) Americans rely on their spouse to help manage their savings and investments Almost 1 in 5 (19%) Americans uses a self-directed online investment account compared to 1 in 6 (15%) Unmarried Americans Over 1 in 5 (22%) Americans consults an RIA, while only 1 in 6 (15%) Unmarried Americans does the same Which of the following do you use/work with, if any, to help manage your savings and investments? % 60 Male: 24% Female: 9% Male: 30% Female: 10% Unmarried Male: 50% Female: 60% 56 40 20 19 15 15 22 Male: 15% Female: 10% 12 12 10 9 Male: 19% Female: 39% 30 24 0 Self-directed online investment account A registered investment advisor (RIA) A commissioned broker dealer I work with another type of financial professional 2 A robo advisor, or automated online service that manages your investments for you 2 0 My spouse None of the above Q110. Base: All n=1,011; All Unmarried n=1,008; Males (n=471), Females (n=540); Unmarried Males (n=389), Unmarried Females (n=619) Arrows indicate a significant difference between and Unmarried at 95% confidence 9
Americans are more likely than Unmarried Americans to hold mortgage debt (50% vs. 29%) and car loan debt (34% vs. 21%) On average, including those with $0 debt, Americans hold over twice the debt of Unmarried Americans ($86,870, $40,480 respectively) How much debt do you have, currently, in each of the following categories? % with debt 80 Male: 38% Female: 50% Unmarried Male: 59% Female: 70% 66 72 60 40 20 29 50 45 42 9 8 21 34 16 16 0 Average debt (nearest $10) Mortgage Credit card Student loans Car loans Other debt TOTAL Unmarried Unmarried Unmarried Unmarried Unmarried Unmarried Of those with debt $106,990 $145,240 $6,500 $9,320 $30,640 $35,090 $11,440 $15,810 $7,110 $13,670 $61,580 $120,630 Q130. Base: All n=1,011; All Unmarried n=1,008; Unmarried Males (n=389), Unmarried Females (n=619) Arrows indicate a significant difference between and Unmarried at 95% confidence 10
Retiring Together 11
Three in 10 (28%) Americans have downsized, or expect to downsize, their home during retirement Two in 10 (18%) Unmarried Americans have downsized, or expect to downsize their homes and another 2 in 10 (18%) have moved, or plan to move, to a more affordable city/state Which of the following has happened, or do you expect to happen, during your retirement? %, in descending order for Unmarried Downsize my current home Move to a more affordable city/state Move to a warmer climate Move to be closer to family Move to a retirement community Sell my home and rent instead Move abroad to stretch my retirement dollars Move in with another family member Move in with a roommate Stay in my current home 0 6 4 3 3 5 18 28 18 16 Male: 20%; Female: 12% 11 16 11 10 12 9 8 8 Male: 5%; Female: 10% 44 48 Q375. Base: All n=1,011; All Unmarried n=1,008; Males (n=471), Females (n=540); Single (n=496), Unmarried Males (n=389), Unmarried Females (n=619) Arrows indicate a significant difference between and Unmarried at 95% confidence 12
Americans expect to live almost 23 years, on average, after having fully retired One in 10 Americans (9%) and Unmarried Americans (10%) expect to live 35 years or more after full retirement For how many years do you expect to live after you fully retire? % Unmarried 40 20 0 36 Unmarried: 22.9 Average # years: : 22.9 26 22 16 18 18 13 10 10 10 9 7 4 1 5 or less 6 to 10 11 to 15 16 to 20 21 to 25 26 to 30 35 or more Q316. Base: All who expect to fully retire, n=252; All Unmarried n=334 Arrows indicate a significant difference between and Unmarried at 95% confidence 13
About a third (34%) of Americans expect their spouse will outlive them men are more likely than married women to expect that their spouse will outlive them (53%, 18%) Who do you expect will live longer you or your spouse? % Me My spouse I don t know 26% 40% Male: 15%; Female: 35% Male: 32%; Female: 47% 34% Male: 53%; Female: 19% Q240. Base: All n=1,011; Males (n=471), Females (n=540) 14
Two in 10 (20%) Americans say leaving an inheritance is a priority, while a third (34%) state it is not at all a priority To what extent is leaving an inheritance a priority for you? % 1 2 3 4 5 6 7 8 9 10 Not at all a priority Very much a priority 1 to 3: 34% 8 to 10: 20% 19 6 9 6 14 15 11 10 4 7 1 2 3 4 5 6 7 8 9 10 Q380. Base: All, n=1,011; All Unmarried n=1,008 Arrows indicate a significant difference between and Unmarried at 95% confidence CONFIDENTIAL NOT FOR RELEASE
A Quarter of Americans plan to spend money on themselves during retirement rather than save it for their kids inheritance About 1 in 10 (14%) Unmarried Americans plan on spending their retirement money rather than saving it for an inheritance Some retired parents with adult children consider themselves as the SKI set (which stands for spending the kids inheritance ) who spend their money on luxury or long-distance trips, property and/or motor vehicles instead of saving it for their kids inheritance. How likely are you to do this in your retirement? % 1 2 3 4 5 6 7 8 9 10 Very likely 8 to 10: 22% Not at all likely 1 to 3: 34% 19 7 8 7 14 13 9 11 5 6 1 2 3 4 5 6 7 8 9 10 Q379. Base: All with children, n=802; All Unmarried n=477; Unmarried Arrows indicate a significant difference between and Unmarried at 95% confidence 16
Appendix 17
Research Method WHO 2,019 Americans aged 37 or older (half and half Unmarried) WHAT Online Survey WHEN August 11 to 15, 2017 Average time to complete survey: 20 minutes 41% Gen X 49% Boomers 10% Silent Gen. CONDUCTED BY Head Solutions Group on behalf of TD Ameritrade Holding Corporation 1 Unmarried Americans includes Americans who are Single, never married (n=496) Throughout this report, arrows indicate a significant difference between and Unmarried Americans. Yellow callouts show significant differences within Americans and green callouts show significant differences within Unmarried Americans. West 17% Mid-Atlantic 18% Southwest 10% New England 6% South 26% Midwest 23% This survey was conducted by Head Solutions Group on behalf of TD Ameritrade Holding Corporation 1 The statistical margin of error for the total sample of N=2,019 American adults within the target group is +/- 2.19%. 2 This means that in 19 out of 20 cases, survey results will differ by no more than 2.19 percentage points in either direction from what would have been obtained by the opinions of all target group members in the U.S. Sample was drawn from major regions in proportion to the U.S. Census 1 Head Solutions Group (U.S.) Inc. and TD Ameritrade Holding Corporation are separate, unaffiliated companies and are not responsible for each other s products and services 2 Assumes survey participants are the same as non participants Note: Percentages may not add up to 100 due to rounding. 18