Mature Market Experts Stat of The Day: Sleep

According to a recent study by Elizabeth Klerman of Brigham and Women’s Hospital and the Harvard Medical School and Derk-Jan Dijk of the Surrey Sleep Research Centre in England, the mature market needs less sleep than their younger peers. In fact, seniors 60+ required 1.5 hours less than the younger subjects, who on average slept 9 hours.

The research was funded by the National Institutes of Health. Dijk is supported by the Biotechnology and Biological Sciences Research Council of the United Kingdom and Wellcome Trust.

Source: MSNBC.com

 

 

 

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Mature Market Experts Stat of The Day: American Politics . . . Age, Race, and Sex

The mature market will play perhaps the most important role in the upcoming election.
The mature market will play perhaps the most important role in the upcoming election.

Who has the upper hand, Mr. McCain or Mr. Obama? As the mature market has long suspected, ageism is alive and well in America. According to a recent Harris Poll, more people said it would be a “good thing” if a black (38%) or a woman (34%) were elected than think it would be good to elect someone age 70-plus (10%). While most people say they would be neither pleased nor displeased if a black, female or a candidate over 70 were elected, the remainder are much more likely to say they would be pleased than displeased by the election of a woman (by 37% to 11%) or an African-American (by 30% to 11%). However, they are much more likely to be displeased than pleased (by 32% to 9%) if someone over 70 is elected. Most people (72%) say that the sex, age or race of the candidate should make “absolutely no difference.” Interestingly, the group most prejudice against an older president was seniors aged 63+!

 

Source: Harris Interactive

Mature Market Experts Stat of The Day: What Age Does The Mature Market Think Is Old?

“The age at which of the mature market believes they’ll be ‘old’ is 78, with their health status being a deciding factor. Those in excellent health say they’ll be old at 83, while those in poor health put that number at 74. The most popular words they use to describe the best things about being 62 are ‘retirement,’ and ‘not having to work,’ and the words used to describe the worst things are ‘old age’ and ‘health problems.’ Forty-five percent like the term ‘baby boomer’ outright and another 38% are somewhat in favor of it; 17% don’t like it. As for the term ‘retirement,’ 52% like it, 31% like it somewhat and 18% don’t like it.”

Source: MetLife Mature Market Institute

Mature Market Experts Stat of The Day: 70% of 60+ Respondents Are Cutting Back On Essentials

How is the mature market responding to today’s troubled economic times. In Feeling the Economic Pinch: A MetLife Poll of American seniors 60+, 87% of respondents said they are curtailing their spending; 70% are cutting back on essentials like food and transportation. Eighty-two percent are spending less on non-essentials like dining out and vacation. In addition, 17% report having had to provide more financial assistance to family and/or friends as a result of the current economy.

 

“There is no doubt that older Americans are being adversely affected by the current situation,” said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute. “A closer look at the findings shows that women are tightening their spending habits more than men, and not surprisingly those who earn less are cutting back even more. “While there have been serious economic downturns in the past, it is clear that this group of people over 60 feel particularly vulnerable during this time of their lives. Yet, it appears that they are not, at this point, changing their longer range retirement plans.” Of those who are working, 73% said they would not postpone their planned retirement date because of the current economy. Only 16% of all respondents are withdrawing or plan to withdraw more from their retirement funds than they originally planned.

 

Source: MetLife Mature Market Institute

 

Despite the fact that the mature market is tightening their financial belts, it’s still worth remembering that they control the bulk of the nation’s wealth . . . particularly mature women as this PowerPoint points out.

Mature Market Experts Stat of The Day: Cost of Adult Day Services Increased 5% Over Last Year

The mature market continues to experience rising health care costs. “While the 2008 national average hourly rate for homemaker/companions remained unchanged from 2007 at $18 per hour, the average 2008 hourly rate for home health aides increased by 5% from $19 in 2007 to $20 in 2008. Adult day services national average daily rates increased by 5% from $61 in 2007 to $64 in 2008.”

Source: The MetLife Market Survey of Adult Day Services and Home Care Costs (Sept. 2008), MetLife Mature Market Institute

Mature Market Experts Stat of The Day: Colon Cancer

Colon cancer is the country’s second leading cancer killer. Nearly 50,000 Americans are expected to die of colorectal cancer this year.  Yet, new government guidelines from the U.S. Preventative Services Task Force recommend that most seniors, 75 and older, should stop getting routine colon cancer tests. Mature market experts, what do you think? This is a departure from the advice of many other medical experts. Is it good advice?

 

 

Mature Market Experts Stat of The Day: Alzheimer’s

Wow, its 7:14 pm Eastern Standard time. I almost missed today’s Mature Market Experts blog entry. I’ve been on the road all day visiting some extraordinary clients. I have a very cool job. Anyway, since I started the stat of day, I haven’t missed a weekday entry. Since Cal Ripken Jr. is one of my heroes (his 2,632 straight games is a monument to work ethic), I raced home to get this one in:

What’s the mature markets biggest fear? Certainly, Alzheimer’s is near the top of the list. Currently, approximately 4 million Americans have Alzheimer’s disease. (National Institute on Aging)

By 2050, the number of Alzheimer’s patients is expected to reach 12 to 15 million. (National Institute on Aging)

In 2000, about 40% of Alzheimer’s patients were age 85 and over. By 2050, the number is expected to grow to 60%. (National Institute on Aging)

In 2050, Alzheimer’s disease is expected to affect 8 million people 85 years old and over. (National Institute on Aging)