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Retirement Planning > Retirement Investing

Transamerica: Age Counts

By staff Writer

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The youngest workers may be less interested in getting retirement information from the Web than slightly older workers are.

Researchers at the Transamerica Center for Retirement Studies, Los Angeles, have published data supporting that conclusion in a summary of results from a Web survey of 3,466 U.S. workers conducted in late December 2008 and early January 2009.

All of the workers were ages 18 and older, and all worked at employers with 10 or more employees.

The researchers found that participants ages 20 to 29 were far more interested in getting retirement planning and investing information from friends and relatives, while workers ages 30 to 39 were far more interested in getting information from financial websites.

About 45% of the members of the 20-29 age group said they get their retirement information from friends and relatives, while only 40% of the members of the 30-39 age group relied on that source.

Meanwhile, only 29% of the members of the Web-savvy 20-29 age group said they turn to financial sites for retirement information, while 38% of the members of the 30-39 age group use the Web for retirement information.

The members of the 20-29 age group were more likely than members of any other age group included to rely on friends and relatives, and they were the least likely to rely on the Web.

In the 60 plus age group, for example, 30% of the survey participants said they get retirement information from financial Web sites.

Use of retirement from print newspapers and magazines correlated closely with age, ranging from 13% for the participants in the 20-29 age group up to 36% for participants ages 60 and older.

Only 10% of participants ages 20 to 29 said they get retirement information from financial television shows, but about 20% of the participants in all other age groups included said they get retirement information from that source.
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CORRECTION: An earlier version of this story described younger survey participants’ use of Web retirement information incorrectly.

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