Securing Facts: Research Summary and Methodology

With the media’s focus on generational differences in consumer attitudes and the topic of debt inundating the news, Securian Financial Group’s most recent research set out to debunk or prove the stereotypes of the spendthrift youngsters, the strapped Boomers and the thrifty Silents. 

Securian’s most recent research finds that, no matter what the generation, consumers often don’t recognize debt if they have it, but it still clouds their ability to feel financially secure and work toward a secure tomorrow. Debt – The Blind Spot on America's Road to Retirement – Securian's multi-generational study, uncovers philosophies and behaviors surrounding debt across four generations.

Securian worked with Mathew Greenwald & Associates to implement the study to:

• Learn how Americans feel about debt and if their feelings are consistent with their behavior
• Gauge any generational differences in these attitudes and behaviors
• Understand if Americans come to grips with debt as they approach retirement
• Find if Americans are realistic about debt, especially as they manage their future and approach retirement

Methodology
Securian worked with Mathew Greenwald & Associates, a leading market research firm specializing in the financial services industry, to implement and field the online study from October 16 to 23, 2007.

Online interviews were conducted with 2,061 individuals:

• 531 in Generation Y (ages 20-26)
• 513 in Generation X (ages 27-42)
• 505 Baby Boomers (ages 43-61)
• 512 in the Silent Generation  (62-73)

All participants had household incomes above minimum thresholds set for each generation:

• $20,000 for Generation Y
• $40,000 for Generation X
• $40,000 for Baby Boomers who were not retired and $20,000 for Boomer retirees
• $30,000 for Silents who were not retired and $20,000 for Silent retirees

Self-employed individuals were excluded from the study to paint a picture of debt in America without business debt.

The sample was balanced so each generation had a mix of about half men and half women, a mix of educational levels, and representation of whites and ethnic/racial minorities.

As an adjunct, six seasoned advisors were interviewed to better understand advisor attitudes, to gain knowledge about and strategies for addressing debt with clients, and to ascertain advisors’ interest in possible deliverables to educate clients and overcome their barriers.

Mathew Greenwald & Associates
Mathew Greenwald & Associates is a premier, full service public opinion and market research company.  Greenwald is an industry leader when it comes to providing research insights to financial services companies, including many of the nation’s largest investment, insurance, mutual fund, and pension companies.  Headquartered in Washington, D.C., Greenwald is known for its customized research and many publicly released studies, including the annual Retirement Confidence Study.