2011 Voices of 50+ New York: Dreams & Challenges
Executive Summary AARP has a strong commitment to help improve the lives of the 50+ population. As part of the Association s continuous communication with its members and all 50+ Americans, AARP commissioned an innovative set of surveys designed to better gather information on the needs, interests and concerns of 50+ Americans both at the national and state level. These random digit it dial telephone surveys of over 29,000 adults age 50+ across the 50 states, the District of Columbia, Puerto Rico and the Virgin Islands were fielded between January 2 nd and January 31 st. These telephone interviews also included additional list-assisted samples of African-American and Hispanic 50+ adults. The data presented here is based on a sample of 404 50+ New York state adults and has a sampling error of 5%. 2
Executive Summary The survey finds that: About five in ten New York adults 50+ say that health care issues are the top problem or challenge facing mid-life and older adults in their state. Over a third cite economic issues as the largest challenge. At a more personal level, adults 50+ say vacation and travel and hobbies are what they personally dream about doing next in their lives. Health and financial security are very important in the lives of adults 50+. More than nine in ten say staying healthy, having adequate health insurance, staying mentally sharp, Social Security, and Medicare are extremely or very important to them. Adults 50+ do not have everything they need in order to accomplish their most important goals: About a third have all they need to stay sharp, stay healthy, and maintain adequate health insurance. 3
Executive Summary Three in five (61%) New York adults 50+ are not confident that their children s generation will be better for their children than it has been for them. Worries about health issues illustrate the importance of finances. About seven in ten worry about having to pay more for health care, financial devastation due to health costs, being unable to pay for a major illness, and staying healthy. About 90 percent of adults 50+ worry about one or more financial issues. Public assistance benefits and maintaining finances and lifestyle in retirement are worries for two-thirds. In the current economy, four in ten (41%) adults 50+ say they have had at least some difficulty paying their monthly electric utility bill. 4
Executive Summary If the economy doesn t improve over the next 12 months, 58 percent of working New York adults age 50+ say they will delay retirement and work longer. Among those who would delay retirement and work longer due to a poor economy, four in ten would delay retirement for five or more years, and one in six (16%) say they plan to never retire. About four in ten New York adults 50+ do not have access to a bank, pharmacy, public transportation, grocery store, or park within walking distance. Only three in ten say they feel extremely or very informed about long-term care services available in their community. 5
Dreams for the 50+ Top Dreams (n=404) Adults 50+ say they want to spend time traveling (41%) and pursuing their hobbies and Vacation and travel 41% interests (21%). Hobbies and interests Career, job, and work Kids, grandkids, family & friends Reinventing yourself Finances 21% 7% 6% 5% 5% 0% 20% 40% 60% Reinvention is what they dream about. Adults 50+ want to get a better job or take their current career to a new level (7%), forge a new path for themselves (5%), and earn money to take care of needs and wants (5%). Other dreams mentioned by fewer than five percent are around marriage, faith, and volunteering. Source: Core Q1. Thinking about what s next in your life, I would like you to think about the kinds of things you dream about doing these could be things you have always wanted to do, but never got around to, or things you have done in the past and want to continue doing. What would you consider to be the one thing that you would most like to do? (Open ended/unaided response) 6
Top Challenge Facing the 50+ Top Challenge (n=404) Health care issues include the cost of health care and staying healthy. Health care issues 46% Economic issues include unemployment and having enough money to retire. Economic issues Other social issues 13% 35% Other social issues vary widely. They include topics like how to spend time, transportation/getting around, family values, politics and government. 0% 20% 40% 60% 80% 100% Source: Core Q2. What do you believe is the SINGLE most important problem or challenge facing mid life and older Americans as they get older? (Open ended/unaided response) 7
Issues of Importance to the 50+ Today Issues of Importance and Extent to Which Needs Are Met for the 50+ Today (n=404) Staying healthy Adequate health insurance coverage Staying mentally sharp Receiving i Social Security when needed Receiving Medicare when needed Spending time w/family&friends Protecting against consumer fraud Finding the best deals and discounts 33% 37% 40% 29% 25% 36% 25% 19% 60% 78% 97% 95% 94% 94% 93% 89% 0% 20% 40% 60% 80% 100% Extremely/Very Important Everything They Need Source: Core 3a-q. How important is each of the following in your life right now? Core 4a-h: Do you think you currently have everything you need in regards to [specific items of extreme/very importance]? See attached annotated survey for a list of items. Base for Everything They Need is those who said issue was extremely/very important. 8
50+ Generational Concerns Confidence That Your Children s Generation Will Be Better Than It Has Been for You (n=404) Confident, 29% Not confident, 61% Not sure/ Refused, 10% Source: 50+2. Do you feel confident or not confident that life for your children s generation will be better than it has been for you? 9
50+ Health Care Concerns Worry about Health Issues (n=404) Having to pay more for your health care Staying healthy Financial devastation due to health costs Losing health care insurance Unable to pay for for amajor illness or injury Unable to afford prescription drugs Unable to afford health care services Quality of health care services getting worse Staying mentally sharp Finding a health care provider that accepts your insurance Finding a health care provider located near you 54% 24% 44% 32% 44% 25% 42% 21% 42% 28% 38% 27% 38% 28% 36% 30% 33% 30% 29% 19% 20% 20% Extremely/Very Worried 0% 20% 40% 60% 80% 100% Somewhat Worried Source: HC9. I m going to read to you a list of health issues that people sometimes worry about. Please tell me how worried you are about each of the following. How worried are you about [INSERT, READ AND RANDOMIZE EACH ITEMS A THROUGH K BELOW]? Are you extremely worried, very worried, somewhat worried, not very worried, or not at all worried? 10
50+ Long-Term Care Concerns Feel Informed about Long-Term Care Services Provided at Home and in Community Settings (n=404) Very informed, 18% Somewhat informed, 43% Extremely informed, 12% Not sure/ Refused, <1% Not at all informed, 9% Not very informed, 18% Source: HLTC4. How informed would you say you are about long-term care services provided at home and in community settings? Are you extremely informed, very informed, somewhat informed, not very informed or not at all informed? 11
50+ Financial Concerns Difficulty Paying Electric Utility Bill (n=404) Very difficult, 11% Somewhat difficult, 23% Extremely difficult, 7% Not sure/ Refused, 1% Not very difficult, 20% Not at all difficult, 37% Source: EUTIL3. Thinking of your current household finances, how difficult is it for you these days to pay your electric bill? Is it extremely difficult, very difficult, somewhat difficult, not very difficult, or not at all difficult? 12
50+ Financial Concerns Worry about Financial Issues (n=404) Public assistance benefits 36% 29% Maintaining finances and lifestyle in retirement Financial planning and saving for the future Providing financial support to family members 34% 32% 29% 32% 32% 36% Managing debt Access to work retirement savings plans 25% 26% 24% 19% 0% 20% 40% 60% 80% 100% Extremely/Very Worried Somewhat Worried Source: ECON4. I m going to read to you a list of financial issues that people sometimes worry about. Please tell me how worried you are about each of the following. How worried are you about [INSERT, READ AND RANDOMIZE ITEMS A THROUGH F BELOW]? Are you extremely worried, very worried, somewhat worried, not very worried, or not at all worried? 13
50+ Work Concerns 58 percent of working Length of Planned Delay to adults 50+ say if the Retirement (n=84) economy does not Up to five improve over the next years, 12 months they will 19% 8% delay complete retirement and work longer. Nearly four in ten would delay retirement for up to five years or more and work longer. One in six say they would never retire. Up to four years, 4% Up to three years, 20% Up to two years, 12% More than five years, Never retire, 16% Not sure, 8% Up to one year, 2% Source: WORK2. If the economy does NOT improve over the next 12 months, will you delay complete retirement t and work longer? Source: WORK3. How much longer do you plan to delay complete retirement and work longer? Do you plan to delay up to one year, up to two years, up to three years, up to four years, up to five years, more than five years or do you plan to never retire? Base: Respondents who are employed. 14
50+ Transportation Concerns Walkability from Home to Community Locations (n=404) Your doctor s office 30% 69% Your place of work, if employed 27% 67% A bank or financial services center 54% 45% A pharmacy 57% 42% Public transportationt ti 60% 39% A grocery store 60% 39% A park or recreation area 65% 34% Yes 0% 20% 40% 60% 80% 100% Source: TRANS4. Can you safely walk from your home to [INSERT, READ AND RANDOMIZE ITEMS A THROUGH G BELOW]? No 15
50+ Survey Sample Demographics (n=404) AGE 50-59 41% ETHNICITY Hispanic/ Latino 11% 60-74 75+ GENDER Male Female 38% 21% 44% 56% RACE White Black Native American Pacific Islander Asian Other 14% <1% 1% 1% 5% 78% DISABILITY Yes No 26% 0% 20% 40% 60% 80% 100% HOUSEHOLD INCOME <30K 30K-50K 50K-<75K 74% 75K+ 28% 19% 17% 16% 0% 20% 40% 60% 80% 100% 16
50+ Survey Sample Demographics (n=404) EMPLOYED Employed Retired Unemployed Other 4% 8% 36% 50% PARTY AFFILIATION Democrat Republican Independent Other 43% 21% 18% 11% EDUCATION HS or less Post HS or 2 yr. 33% 28% POLITICAL VIEWS Liberal Moderate Conservative 28% 25% 32% 4 yr. degree 15% AARP MEMBERSHIP Post grad no degree 4% Yes 41% Graduate degree 17% No 58% 0% 20% 40% 60% 80% 100% 0% 20% 40% 60% 80% 100% 17
CONTACT For more information, please contact: Chaunda Ball, AARP New York Associate State Director-Communications (212) 407-3732, CBall@aarp.org AARP is a nonprofit, nonpartisan organization with a membership that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 35.1 million readers; AARP Bulletin, the go-to news source for AARP's millions of members and Americans 50+; AARP VIVA, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Copyright 2011 AARP Research & Strategic Analysis, 601 E Street, NW, Washington, DC 20049 Reprinting with Permission 18