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Mortgage industry spared at 11th hour by junk fax act

National Mortgage Professional
Jan 06, 2006

Survey details seniors' perceptions of lifestyle, financial securityMortgagePress.comSenior lifestyle Financial Freedom has released the findings of its Second Annual Senior Sentiment Survey. These findings present an ongoing study of seniors to track their attitudes and behaviors and identify any significant changes. The survey, conceived and underwritten by Financial Freedom, explores the financial, social and quality of life aspects of older Americans aged 62-75. Survey highlights The Senior Sentiment Survey measured the opinions of senior citizens in the United States on a variety of topics in their lives, including personal and financial security, retirement planning, reverse mortgages and general lifestyle. The findings presented in this report are based on an online survey of 1,140 U.S. seniors, aged 62-75, conducted from March 24-28 by Harris Interactive. Figures for age, sex, race/ethnicity, education, region and income were weighted where necessary to align them with population proportions. Propensity weighting was done to adjust for respondents' propensity to be online. The results have a statistical precision within three percentage points of what they would be if the entire U.S. senior population (aged 62-75) had been polled with complete accuracy. Perceptions of personal security and national affairs Fifty-one percent of seniors don't think this period in American history is any better or worse than other periods in terms of personal security and national affairs. A higher percentage of seniors this year, 49 percent, versus 36 percent from last year, expect economic conditions to worsen. Thoughts on personal financial security A higher percentage of seniors this year, 49 percent, are comfortable with their own financial circumstances, compared with 43 percent from last year. Sixty-four percent indicated that the biggest influence on their financial comfort is the cost of healthcare. Thoughts on retirement living space. Seventy-six percent of seniors live in a single-family home and eight percent live in a planned retirement community. Eighty-one percent of seniors feel that their home is appropriate for aging. Perceptions of reverse mortgages. This year, 35 percent of seniors are familiar with reverse mortgages, up from 31 percent last year. Concerns and thoughts on general lifestyle Fifty-nine percent of seniors use a credit or debit/ATM card for day-to-day living expenses, while 21 percent use cash. Sixty-two percent would prefer to live in the country. If seniors were to suddenly come into $100,000, 64 percent would invest the money, while 30 percent would donate to a charity. The survey also assessed seniors' attitudes about the U.S. economy, measured their views about their own financial situation and considered their level of satisfaction with their personal lives, work, children and communities. For more information, visit www.financialfreedom.com.
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