TD Ameritrade survey reveals that a third of married Americans are
not entirely financially faithful with their spouse
OMAHA, Neb.–(BUSINESS WIRE)–Love is in the air as engagement season starts on Thanksgiving and
continues through Valentine’s Day. As these starry-eyed couples tie the
knot, one thing that’s clearly in focus is their finances, according to
TD Ameritrade’s latest survey.
Ameritrade’s Marriage & Money survey of 1,000 married and
1,000 unmarried adults (ages 37 and older) reveals that getting married
can serve as a trigger for Americans to focus more on their finances,
particularly for men. In fact, nearly four in ten (37 percent) married
Americans report paying more attention to their finances after getting
married. Married couples also report additional shifts in perspective
A third (33 percent) of married men and 28 percent of married women
report saving more money after getting hitched;
32 percent of married men and 28 percent of married women started to
worry more about the future;
Three in 10 (30 percent) married individuals rely on their spouses to
help manage their savings and investments (39 percent of females vs.
19 percent of males); and
30 percent of married Americans say the moral support that keeps each
other on track is the biggest financial benefit of getting married
“For many Americans, wedding bells serve as a wake-up call to get their
finances in order as they now have a partner to think about,” said JJ
Kinahan, chief market strategist and managing director at TD Ameritrade.
“Having a spouse, and perhaps for some a family, can encourage better
financial habits, deter overspending, and keep long-term goals in focus.”
It’s Not All Wedded Bliss
While marriage often serves as an
incentive to financial responsibility, it also has its challenges.
One-third (34 percent) of married Americans report that they are not
always “financially faithful” with their spouse, and nearly four in ten
(39 percent) don’t believe their spouse is entirely financially faithful
with them. On average, married Americans report having argued with a
spouse about money 4.3 times in the past year.
Planning for the Golden Years Together
When it comes to
retirement, nearly three in 10 (28 percent) married Americans have
downsized, or expect to downsize their home in retirement, while singles
are more likely to stay put. And, the destination of choice – warmer
climates, according to one in five (20 percent) married Americans.
On average, married Americans expect to live 23 years in retirement, and
men largely anticipate their wives to have the upper hand in terms of
life expectancy. More than half (53 percent) expect their wives to
outlive them, vs. just 18 percent of married females who said the same
about their husbands.
Sorry kids …
One-third (34 percent) of married Americans say
leaving an inheritance is “not at all” a priority for them. In fact,
having a spouse to enjoy retirement with makes married couples more
inclined to say they’re likely or very likely to spend what they’ve
saved – on trips, property, motor vehicles, etc. – rather than pass it
on to their children (44 percent married vs. 29 percent unmarried).
“It’s important for married couples to have a shared vision for the
future, whether that includes spending your money or saving it for
future generations,” says Kinahan. “Being upfront with each other about
finances and having frequent conversations about your desired retirement
lifestyle will help couples be better prepared for what lies ahead.”
About TD Ameritrade Holding Corporation
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turned to TD Ameritrade’s (Nasdaq: AMTD) technology, people and education to
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Survey conducted by Head Solutions Group
Group (U.S.) Inc., is a leading market research partner for Financial
Services companies in North America. With offices in New
York, Toronto and Montreal, Head delivers the deep customer insights
that increase institutional knowledge and propel business action. TD
Ameritrade and Head Solutions Group are separate and unaffiliated firms
and are not responsible for each other’s services or policies.
About the 2017 Marriage & Money Survey
online survey was conducted with 2,019 American adults aged 37 and older
by Head Solutions Group, between August 11 and August 14, 2017, on
behalf of TD Ameritrade Holding Corporation. The statistical margin of
error for the total sample of N=2,019 within the target group is +/-
2.19 percent. This means that in 19 out of 20 cases, survey results will
differ by no more than 2.19 percentage points in either direction from
what would have been obtained by the opinions of all target group
members in the United States. Sample was drawn from major regions in
proportion to the U.S. Census.
Source: TD Ameritrade Holding Corporation
TD Ameritrade Holding Corporation
Sr. Manager, Corporate Communications
Jeff Goeser, 402-597-8464