New Merrill Lynch Retirement Survey Describes How Baby Boomers Will Transform Retirement

New Merrill Lynch Retirement Survey Describes How Baby Boomers Will Transform Retirement

B-roll Available - Date of Satellite Newsfeeds: Wednesday, February 23, 2005

DETAILS:

A new survey conducted by Merrill Lynch, Harris Interactive(R) and AgeWave asked baby boomers about their hopes, fears and expectations for retirement. It revealed that:

* Boomers plan to revolutionize retirement. As a result of living longer,
boomers will postpone old age and "live younger" longer.
* This generation does not plan to retire at age 65, nor do they want a
retirement like their parents.
* The majority of boomers (76%) surveyed relate that they plan to keep
working and earning in retirement, but will do so by cycling between
periods of work and leisure during their traditional retirement years,
thus creating a new model for retirement.
* Only 17% of boomers hope to never work for pay again and pursue a
traditional retirement of leisure.
* Boomer men and women envision different retirements.
* Despite uncertainty around Social Security, baby boomers feel their
entire generation deserves full entitlements from Social Security to
prescription drug coverage.
* Boomers are three times more likely to fear not being able to afford
health insurance than they are to fear death.



The financial implications of this new retirement model are positive. The survey findings suggest that the retirement most boomers envision is achievable. This disproves many of the gloomy predictions about a retirement crisis caused by boomers who do not save enough.

SATELLITE NEWSFEED WILL INCLUDE:
* Man on the street interviews asking boomers about their current plans
for retirement
* Soundbytes on key findings of the survey with:
-- Michael Falcon, COO of Merrill Lynch's Retirement Group
-- Ken Dychtwald, noted gerontologist, co-author of this survey and
president of Agewave, the nation's leader in market analysis and
entrepreneurial insights concerning the new maturing marketplace.

SATELLITE FEED DATES AND TIMES:
Feed Date February 23, 2005
* Feed Time One: 10:45-11:00 EDT
* Feed Time Two: 13:45-14:00 EDT (1:45 pm)
* Coordinates: IA 6; Transponder 16, C Band, Downlink Freq: 4020 H

CONTACT: Tracy Akselrud / 310-226-3025/ Tracy_akselrud@bm.com

PRNewswire -- Feb. 23


Source: Merrill Lynch


-------
Profile: intent