Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Metlife Inc    MET

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Metlife Inc : MetLife Study Finds Contrary to Predictions, Boomers Are Retiring

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/03/2012 | 04:00pm CET

More Than 60% of 65-Year-Olds Already Collecting Social Security

Despite the popular belief that Baby Boomers will continue to work well past the traditional retirement age of 65, those born in 1946 are retiring in droves, according to Transitioning into Retirement: The MetLife Study of Baby Boomers at 65. This study is a follow-up to the 2008 MetLife Mature Market Institute study, Boomer Bookends: Insights into the Oldest and Youngest Boomers (released in 2009), which looked at the same segment of Boomers at age 62 and includes 450 of the same interview subjects from the original study.

The study reports that 59% of the first Boomers to turn 65 are at least partially retired - 45% are completely retired and 14% are retired, but working part-time. Of those still working, 37% say they'll retire in the next year and on average plan to do so by the time they're 68. Half (51%) of those who are retired say they retired earlier than they had expected. Of those who retired early, four-in-ten say they did so for health reasons. The majority (85%) of respondents consider themselves healthy, and almost all (96%) retirees say they like retirement at least somewhat. Seven-in-ten (70%) like it a lot.

Almost two-thirds, 63% of respondents, are already collecting Social Security benefits, and on average began doing so at the age of 63, defying the conventional wisdom that people would choose to wait to receive benefits until a later age in order to receive a higher payout. Among those in the survey, just over 60% are confident that the Social Security system will be able to provide adequate benefits for their lifetime.

Regarding the attitude of these respondents, the data shows that 43% of those polled are optimistic about the future. Of the 19% who are pessimistic about what's ahead, 49% fault the government and 21% blame the economy. The 65-year-old Boomers do not consider themselves old; on average they won't consider themselves to be old until they're age 79, a year older than reported in 2007.

"Many of the Boomers weathered the recession well and have been able to stop working. Half of all Boomers feel confident that they are on track or have already hit their retirement goals," said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute. "We found that more are homeowners today than 2008, that the value of their homes decreased by only about 5.2% on average, that the majority feel they're in good health and that 83% have grandchildren. Overall, it's a pretty confident group of Americans."

Additional findings:

  • The average retirement age for the 1946 Boomers is 59.7 for men and 57.2 for women.
  • 24% have a living parent.
  • 84% are parents; 83% are grandparents, up from 77% in 2008.
  • Of those not retired, 61% plan to retire at the same age as they planned one year ago.
  • 31% of 65-year-old Boomers think they were at their sharpest mentally in their 40s; only 20% say they're at their sharpest today.
  • Home ownership increased significantly among the studied cohort since 2008, from 85% to 93%.
  • 71% are married or in a domestic partnership; 12% are divorced or separated; 10% are widowed and 7% are single.

Methodology

Transitioning into Retirement: The MetLife Study of Baby Boomers at 65 was conducted by GfK Custom Research North America on behalf of the MetLife Mature Market Institute in November 2011. A total of 1,012 respondents born in 1946 were surveyed by random digit-dial telephone contact. The sample was among 942 respondents from the previous wave of Boomer Bookends: Insights into the Oldest and Youngest Boomers who agreed to be re-contacted. A total of 450 respondents completed the follow-up survey. The sample was supplemented by an additional sample of 562 respondents from Dunhill. Data were weighted by demographics to be representative of the total U.S. Baby Boomer population.

The MetLife Mature Market Institute®

Celebrating its 15-year anniversary in 2012, the MetLife Mature Market Institute is Metropolitan Life Insurance Company's (MetLife) center of expertise in aging, longevity and the generations and is a recognized thought leader by business, the media, opinion leaders and the public. The Institute's groundbreaking research, insights, strategic partnerships and consumer education expand the knowledge and choices for those in, approaching or working with the mature market.

The Institute supports MetLife's long-standing commitment to identifying emerging issues and innovative solutions for the challenges of life. MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, please visit: www.MatureMarketInstitute.com.

DJC Communications
Deb Caruso, 212-971-9708
or
MetLife
Shalana Morris, 212-578-1115


© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on METLIFE INC
02/24 METLIFE : Fully committed to growing insurance jv with pnb, says top metlife off..
02/23 METLIFE : U.S. Chamber and MetLife Team Up to Support and Celebrate America's Sm..
02/22 METLIFE : is First U.S. Insurer to Achieve Carbon Neutrality
02/20 METLIFE : Announces first quarter 2017 preferred stock dividend action, subject ..
02/17 METLIFE INC : Other Events, Financial Statements and Exhibits (form 8-K)
02/17 METLIFE : Announces First Quarter 2017 Preferred Stock Dividend Action, Subject ..
02/16 METLIFE : Originates a Record $15 Billion in Commercial Real Estate Loans in 201..
02/16 METLIFE : Gulf wins the best employee benefits provider award at the mena insura..
02/16 METLIFE : Announces 8 Finalists for “collab”
02/15 METLIFE INC : Creation of a Direct Financial Obligation or an Obligation under a..
More news
Sector news : Life & Health Insurance - NEC
03:40p AVIVA : UK insurer Aviva to take 385 million pounds charge after discount rate c..
03:39pDJAVIVA : to Book GBP385 Million Charge to Post-Tax Profit After Ogden Change
11:29a FTSE steady as miners outweigh GKN, Babcock gains
09:55a ST JAMES PLACE : says CEO Bellamy to step down, shares lower
02/27 European shares ease on weaker insurance sector, Italian stocks surge
More sector news : Life & Health Insurance - NEC
News from SeekingAlpha
02/24 Banks give some back as rates sink to 2017 low
02/23 Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q4 2016 Update
02/23 Incyte Is Undervalued - Cramer's Lightning Round (2/22/17)
02/21 Buy Voya, sell MetLife - Citi
02/20 My Income Investments Are Tilted Towards Rising Interest Rates And Growth
Advertisement
Financials ($)
Sales 2017 68 264 M
EBIT 2017 7 664 M
Net income 2017 5 549 M
Debt 2017 -
Yield 2017 3,12%
P/E ratio 2017 10,20
P/E ratio 2018 9,62
Capi. / Sales 2017 0,85x
Capi. / Sales 2018 0,83x
Capitalization 57 880 M
More Financials
Chart METLIFE INC
Duration : Period :
Metlife Inc Technical Analysis Chart | MET | US59156R1086 | 4-Traders
Full-screen chart
Technical analysis trends METLIFE INC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 59,7 $
Spread / Average Target 13%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Steven Albert Kandarian Chairman, President & Chief Executive Officer
Martin J. Lippert Executive VP-Global Technology & Operations
John C. R. Hele Chief Financial Officer & Executive Vice President
Jacki Goldstein Chief Medical Officer
Cheryl W. Grisé Lead Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
METLIFE INC-2.60%57 880
AXA-7.98%56 724
PRUDENTIAL PLC-0.83%51 804
PRUDENTIAL FINANCIAL I..5.67%47 709
MANULIFE FINANCIAL COR..-1.40%35 816
AFLAC INCORPORATED3.03%29 518
More Results