T. ROWE PRICE SURVEY FINDS HALF OF AMERICAN SPORTS FANS ARE MORE LIKELY TO KNOW THEIR FAVORITE TEAM'S RECORD THAN HOW MUCH THEY HAVE SAVED FOR RETIREMENT

Rhea-AI Summary

T. Rowe Price's recent survey reveals that 51% of American sports fans are more likely to know their favorite team's record than their retirement savings. The survey, conducted by Wakefield Research, sampled 1,000 adults aged 18 and older. Key findings include:

- 64% of Americans believe they started thinking about retirement later than they should have
- Nearly 2 in 5 employed Americans feel behind on their retirement goals
- 13% of employed Americans haven't started planning for retirement

On a positive note, 37% of respondents feel that saving a set amount monthly would increase their retirement security. The survey coincides with National Retirement Security Week and the MLB playoffs, following T. Rowe Price's partnership with The Baltimore Orioles as their exclusive investment and wealth management sponsor.

Survey highlights the retirement attitudes and behaviors of American sports fans at the intersection of National Retirement Security Week and the Major League baseball playoffs

BALTIMORE, Oct. 21, 2024 /PRNewswire/ -- T. Rowe Price, a global investment management firm and leader in retirement today announced new survey findings which revealed that 51% of American sports fans are more likely to know their favorite sports team's record than how much they have saved for retirement. Additionally, 64% of Americans believe that they started thinking about retirement later than they should have, and nearly 2 in 5 employed Americans feel they're behind and catching up with their retirement goals but feel pressure to do more. Thirteen percent of employed Americans say they haven't even started yet. Conducted by Wakefield Research, the national survey is representative of 1,000 adults aged 18 and older.

These findings, announced at the intersection of National Retirement Security Week (Oct. 20-26) and the Major League Baseball playoffs, are meant to shine a light on where Americans may be striking out on retirement planning and where they are scoring some runs. The survey follows an announcement from T. Rowe Price and The Baltimore Orioles in June, naming the financial firm as the exclusive investment and wealth management sponsor of the baseball club.

Meanwhile, there is some good news: while the survey found that most U.S. adults (85%) may not be fully secure in how they reach their retirement goals, their intentions are good. About 4 in 5 Americans still in the workforce thought about their retirement in some way. In fact, 37% feel the strategy of saving a set amount each month would make them more secure in their ability to retire.

"National Retirement Security Week can serve as a reminder for all investors to assess their retirement goals and ensure they are on track with their retirement savings," said Roger Young, CFP^®, thought leadership director at T. Rowe Price. "Taking proactive steps, like contributing regularly to a retirement account, can have a significant impact over time and can help put each investor on the path toward a better retirement."

Americans can learn more about how to proactively save for retirement and how to track and manage their progress by visiting https://www.troweprice.com/personal-investing/resources/insights/youre-age-35-50-or-60-how-much-should-you-have-by-now.html

Young continues, "At T. Rowe Price, we understand that planning for retirement can feel overwhelming. Through our research, thought leadership, and investment decisions, our goal is to give our clients more confidence in their financial future so they can look forward to retirement."

ABOUT T. ROWE PRICE

Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals and institutions around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Clients rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price serves millions of clients globally and manages US $1.63 trillion in assets under management as of September 30, 2024. About two-thirds of the assets under management are retirement-related. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and troweprice.com/newsroom.

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SOURCE T. Rowe Price Group

FAQ

What percentage of American sports fans know their team's record better than their retirement savings according to T. Rowe Price's survey?

According to T. Rowe Price's survey, 51% of American sports fans are more likely to know their favorite sports team's record than how much they have saved for retirement.

How many employed Americans feel behind on their retirement goals based on the TROW survey?

The survey found that nearly 2 in 5 employed Americans feel they're behind and catching up with their retirement goals but feel pressure to do more.

What percentage of Americans believe they started thinking about retirement too late, according to T. Rowe Price's survey?

The survey revealed that 64% of Americans believe they started thinking about retirement later than they should have.

When was the T. Rowe Price survey on retirement savings conducted in relation to National Retirement Security Week?

The survey findings were announced at the intersection of National Retirement Security Week (Oct. 20-26) and the Major League Baseball playoffs in 2024.

What strategy did 37% of respondents in the TROW survey believe would make them more secure in their ability to retire?

37% of respondents felt that the strategy of saving a set amount each month would make them more secure in their ability to retire.