2015 NYC Survey of Gen X Boomer Voters REPORT Final

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Acknowledgements
AARP staff from the New York State Office; Community, State and National Affairs (CSN); and AARP Research
contributed to the design, implementation and reporting of this study.
Contributors include:
Beth Finkel, Bill Ferris, David McNally, Erik Kriss, Erin Mitchell, Donna Liquori and Kimberly Spell from the New
York State office; Sarah Mysiewicz and Reshma Mehta from CSN; Angela Houghton, Eowna Young Harrison,
Brittne Nelson, Kate Bridges, Rachelle Cummins, Darlene Matthews and Cheryl Barnes from AARP Research;
and Doris Gilliam, Office of General Counsel.
Special thanks to Precision Opinion for the collection and tabulation of these data.
For more information contact:

Angela Houghton, Senior Research Advisor
State Research
AARP Research
Tel. (202) 434-2261
ahoughton@aarp.org
Copyright 2015 AARP

AARP Research
601 E Street NW Washington, DC 20049
NEW YORK CITY GEN X AND BOOMERS STRUGGLE WITH STRESS, SAVINGS AND SECURITY
www.aarp.org/research
TABLE OF CONTENTS
Introduction ....................................................................................................................................................... 3
Key Survey Findings .......................................................................................................................................... 4
Executive Summary............................................................................................................................................ 5
About the Survey & Report Terms ..................................................................................................................... 7
Detailed Survey Findings.................................................................................................................................... 8
Current Financial Situation .............................................................................................................................. 8
Confidence In Retiring.................................................................................................................................... 10
Access to Retirement Plans (Among Employed) ...................................................................................... 13
Retirement Savings Behavior.................................................................................................................... 14
Retirement Income Expectations ............................................................................................................. 15
Debt and Other Barriers to Saving ................................................................................................................. 17
New York Affordability ................................................................................................................................... 19
Support for A State Facilitated Retirement Savings Option........................................................................... 22
Demographic Profile of Respondents .............................................................................................................. 24
Methodology ................................................................................................................................................... 26
INTRODUCTION
This year Generation X turned 50. With 2.5 million members across the state, AARP New York is
the states leading advocate for the 50+, and we believe now is the time for us to take stock of the
financial plans of Gen Xers and how prepared they are for their financial future. To that end,
AARP New York presents, High Anxiety: New York Citys Gen X and Boomers Struggle with
Stress, Savings and Security, a report detailing the findings behind a groundbreaking five
borough survey of New York City voters aged 35-69, Generation X and Baby Boomers together.
One insight we gained was that Gen Xers and Baby Boomers have more in common than one
might have guessed if they live in New York City. Neither generation thinks they can afford to
remain in the City as they get older.
Last year, we presented a voter survey that showed a majority of working New York City Baby
Boomers plan to leave the City for their retirement. This year, we found even more members of
Gen X intend to flee the City 66 percent, compared to the Boomers 56 percent. With
unaffordability such a major issue, two thirds of voters aged 35-50 say they are concerned about
being able to pay for the cost of housing in the future. Our City dubiously boasts a record-setting
cost of living, including the highest rent and apartment prices New York City has ever known.
New York City has an affordable housing crisis that is driving out the middle class, and now we
know that it is contributing to a feeling of insecurity among New Yorkers, leading them to believe
they will have to move. That would result in a Gen-Xodus from New York.
But it doesnt have to be that way. At AARP New York we believe the critical insights into the
economic position of the voters of both generations contained in this High Anxiety report can
help serve as a roadmap for fostering better financial and retirement security and independence
including access to a new kind of retirement blueprint.
One solution that other states such as Illinois and Washington recently created is a statefacilitated retirement plan for those with no workplace pension or 401k, which AARP believes
would ease Gen Xers and future generations worries. New York Citys elected officials and state
policymakers are in a position to lend working New Yorkers a helping hand by ensuring that all
who want to save for their retirement have a simple option for doing so.
AARP is committed to ensuring New Yorkers are able to live their best lives as they age, and we
believe financial and retirement security are key to that goal. In the long run, helping our citizens
plan for their future and help themselves helps us all.
Sincerely,
Beth Finkel
State Director, AARP New York
KEY SURVEY FINDINGS
The top personal finance concerns for both Gen X and Boomer voters are:
1) not saving enough; and 2) not preparing enough for retirement.
In both cohorts, a majority feels anxious about being able to have a

comfortable retirement and one-fourth does not expect to retire at all.
34 percent of Gen X and 42 percent of Boomers have neither personal nor

workplace retirement savings accounts.
Gen X indicates a strong likelihood to leave New York during retirement

even stronger than Boomers: 66 percent of Gen X compared to 56 percent
of Boomers.
Housing affordability into the future is a concern for a majority of both

generations. Three-fourths want elected officials to support rent
stabilization.
Sixty-nine percent of Gen X is either a current or expected future holder of

student debt. Paying for education and student loan debt are barriers to
retirement saving for many.
Gen X has significantly lower expectations of Social Security than Boomers:

one-third does not expect any Social Security income at all.
There is widespread voter support to improve access to workplace

retirement plans with the state facilitating a savings option.
Responses from multicultural voters are very consistent with overall Gen X
and Boomers with some distinctions:
o
African American voters are more likely to worry about affordability

and are most likely to currently have student loan debt.
Hispanic voters are highly worried about their financial stability; are
more likely to experience obstacles to saving, especially due to
health needs and family caregiving; and report lower rates of
retirement savings: 46 percent of Gen X and 58 percent of Boomers
have none.
Asian American and Pacific Islanders express relatively greater

anxiety about their earning potential and work security into older
age.
Levels of concern for affordable housing and support of rent

stabilization are stronger among African Americans and Hispanics.
EXECUTIVE SUMMARY
As the first members of Generation X turn 50 this year, survey results reveal that New York Citys
Gen X voters are even more anxious about their future financial security than their pre-retiree
Boomer counterparts. With low expectations of Social Security, lagging savings and widespread debt,
Gen X has reason to be worried.
Disappearing pensions, increasing longevity, a culture of spending versus saving and the impact of
the Great Recession on wealth and security all contribute to what many economists agree is
Americas looming retirement crisis.1 While Boomers are at the forefront of this course, Gen X is the
first generation that will fully come into retirement age with a new playbook, having lived the
entirety of their working years during the rise of 401k plans and a shift away from traditional
pension plans. Generation X is also saddled with debt unlike generations before them, including
student loan debt, which impedes their ability to save and puts them at risk of becoming the first
generation in recent history that is less economically secure than their parents.2
In New York City, one-fourth of the Gen X and Boomer aged labor force is not confident they will
ever be able to retire and no longer work for money. Even larger proportions are anxious about being
able to live comfortably in retirement: two-thirds of Gen X and nearly six in ten Boomers. On the
other hand, there is worry about having employment opportunities at older ages for those who want
to continue working, particulary among Asian American and Pacific Islanders.
One notable difference between Gen X and Boomer generations regarding retirement relates to
their Social Security expectations. More of Gen X is working without the security of knowing their
Social Security benefit will be there in the future. One-third of Gen X expect to receive nothing
from Social Security in retirement, which is 2.5 times the share of equally pessimistic Boomers.
Moreover, the majority of Gen X who expect to receive any Social Security benefit thinks it will be
only a minor share of their retirement income.
In spite of weaker expectations about Social Security, Gen X is only marginally more likely than
Boomers to participate in retirement savings. Forty-two percent of Gen X workers and 44 percent
of Boomer workers in New York City either do not have access to employer-sponsored retirement
plans or do not participate in currently available employer plans. Among all voters in each cohort
and taking into consideration personal savings in retirement accounts, 34 percent of Gen X and 42
percent of Boomers do not have any retirement savings account at all. Hispanics in our survey
have even lower rates of saving and larger proportions with no retirement account: nearly half of
Hispanic Gen X (46%) and almost six in ten Hispanic Boomers (58%) do not have a retirement
account.
For both Gen X and Boomers, a common obstacle to saving for retirement is not having enough
money after paying bills, which may contribute to the lower likelihood of self-funding an individual
retirement account outside of work. But AARP research shows that workers are 15 times more
1
2
For more discussion and economic analysis, see Are U.S. Workers Ready for Retirement? Schwartz Center for Economic Policy Analysis. 2014.
A New Financial Reality. The Balance Sheets and Economic Mobility of Generation X. The PEW Charitable Trusts, September 2014.
likely to save for retirement if their employer offers a plan.3 However, in New York State, 54% of
private sector workers, or 3,621,611 people, are not offered a workplace retirement plan through
their employer.4
A legislative proposal for a state-facilitated retirement savings option that would be available to all
workers in New York garners strong support from a majority of all voters in both generational
cohorts, regardless of employment status or current access to workplace retirement plans. Gen X
and Boomer voters clearly want New York elected officials to support the creation of a statefacilitated retirement savings option so that more New York workers have an opportunity to save
for retirement.
Paying for their own or childrens education is also an obstacle to saving for retirement,
particularly for Gen X. One-third (32%) of Gen X voters currently have student loan debt and
another 37% expect to acquire student loan debt in the future to pay for a college education for
themselves or their children. African American Gen X presents the highest levels of current
student debt holders among these New York City voters (39%). With two-thirds of student loan
borrowers saying these loans make it even harder to save for retirement, a significant number of
Gen X is at risk of further jeopardizing their retirement security due to student loan repayment.
The Schwartz Center for Economic Policy Analysis estimates that 32 percent of New York States
present day near retirees are at risk of retiring with incomes below poverty level. The next
generation of retirees has arguably less favorable retirement circumstances, and yet, the majority of
Gen X expects to retire by age 65. This disconnect suggests a retirement reality gap and
demonstrates the need for more public financial literacy as well as new solutions.
Without a drastic change in their current retirement preparedness, Gen X will be forced to make
tougher choices than their parents generation for their retirement years. Retirement options for
many may include resorting to working longer, relying on family and public assistance or
significantly reducing their standard of living.5 Faced with the reality today of financial insecurity
in the future, concern about housing affordability in New York may contribute to a pre-meditated
intention to leave the state. Gen X indicates even stronger likelihood than Boomers to leave New
York State during retirement 66 percent of Gen X compared to 56 percent of Boomers, with onefifth of Gen X saying they are extremely likely to leave. For African American and Hispanic Gen X,
likelihood to leave is expressed by seven in ten. At the same time, a strong majority overall (threefourths of voters in each generation) want elected officials to support rent stabilization.
Data compiled by AARPs Public Policy Institute from unpublished estimates from the Employee Benefit Research Institute of the 2004 Survey of
income and Program Participation Wave 7 Topical Module (2006 data).
4
http://www.aarp.org/politics-society/advocacy/financial-security/info-2014/americans-without-retirement-plan.html
5
The Reality of the Retirement Crisis, January 2015. Center for American Progress.
https://www.americanprogress.org/issues/economy/report/2015/01/26/105394/the-reality-of-the-retirement-crisis/
ABOUT THE SURVEY & REPORT TERMS

Except where otherwise noted, data in this report is from a
telephone survey of registered voters in the five boroughs of
New York City aged 35 to 69. For analysis purposes, the
survey sample was sub-divided into two generational
cohorts: Gen X, age 35 to 50; and Boomers, age 51 to 69.
Terms In This Report

Gen X: Age 35 to 50
Boomer: Age 51 to 69
In Labor Force: Currently
employed or unemployed and
looking for work
The sampling methodology was designed to ensure that

survey respondents are representative of the New York
Citys diverse voter population. In addition to the overall
citywide sample, the study included additional interviews
among African American, Hispanic and Asian American and
Pacific Islander voters in order to obtain large enough
samples to report survey results for these groups. (Asian
American and Pacific Islanders were interviewed in English
only.) 6
Workers: Currently employed

With Access to
Retirement Plans:
Currently employed and have
access to an employer-sponsored
retirement plan
Without Access to
Retirement Plans:
Currently employed and do not
have access to an employersponsored retirement plan
The majority (75%) of survey respondents is currently in the

labor force based on stated employment status, which is
defined in this report as either currently employed or
unemployed and looking for work. Eighty-six percent of Gen
X voters are currently in the labor force; and while
comparatively fewer Boomers are working or looking for
work, it remains a majority of them (64%). About one-fourth (26%) of all survey respondents, or a
third of all in the labor force, is an owner or employee of a small business. Small business was not
defined for survey participants.7
Type of Labor Force Partricipation

among Survey Respondents
Employment Status of Survey

Respondents
Base: New York City Voters Age 35 to 69

In Labor Force
Retired
Other Out of Labor Force
14% 11%
75%
Total
75%
In Labor Force
(NET)
64%
53%
Employed
43%
26%
28%
24%
15%
15%
14%
7%
7%
7%
Small Business
Owner/Employee
Gen X
86%
2%12%
Self Employed
Boomer
64%
0%
6
7
20%
40%
25%
60%
80%
10%
Looking for Work
100%
0%
20%
40%
86%
64%
Total
Gen X
Boomers
60%
80%
100%
Additional details on the research methodology can be found in the Method section of this report.
The fully annotated questionnaire can be found at www.aarp.org/nygenxandboomers.
DETAILED SURVEY FINDINGS

CURRENT FINANCIAL SITUATION
According to the Bureau of Labor Statistics, the Great Recession ended in June 2009 after a 19month economic decline8. Since its end, the unemployment rate has decreased, the stock market
has returned to pre-recession levels and home values are increasing. Despite these economic
improvements, many still feel financially insecure. Nationally, as many as 35 percent of Gen X
workers and 40 percent of Boomer workers believe the Great Recession has not yet ended and only
one-fourth of either cohort say the economy is recovering or has fully recovered.9
In this 2015 survey of New York City voters age 35 to 69, many expressed worry about their own
personal financial situations. From a list of personal financial concerns that include saving, debt,
expenses and employment opportunity into older age, the two things both Gen X and Boomers
worry about most are saving and planning for retirement.
More than three-fourths (78%) of New York Citys Gen X worry about not saving enough and 70
percent worry about not planning enough for retirement. Among Boomers, two-thirds (66%) worry
about not saving enough and 61 percent worry about not planning enough for retirement.
http://www.bls.gov/opub/mlr/2014/article/consumer-spending-and-us-employment-from-the-recession-through-2022.htm
The Retirement Readiness of Three Unique Generations: Baby Boomers, Generation X, and Millennials. 15th Annual Transamerica Retirement
Survey of Workers, April 2014, Transamerica Center for Retirement Studies (TCRS) https://www.transamericacenter.org/docs/defaultsource/resources/center-research/tcrs2014_sr_three_unique_generations.pdf
Despite Gen Xs theoretically longer time to plan for retirement compared to Boomers, worry about
saving and retirement planning holds a top of mind presence for a larger share of Gen X. The
younger generation is also more likely than their Boomer counterparts to worry about not being
able to pay bills and having too much debt. The two generational cohorts are equally likely to
worry about unexpected emergencies that they cannot afford (57%). The possibility of diminishing
work opportunities because of age is the one item that Boomers tend to worry about more than
Gen X (32% versus 26%).
Gen X:
How frequently do you worry about ... when it
comes to your personal financial situation?
Base: New York City Gen X Voters
Often
Sometimes
Not saving enough
47%
Not planning enough for retirement
78%
31%
34%
70%
36%
Having an unexpected emergency

that you wont be able to pay for
24%
33%
57%
Not being able to pay your bills
23%
32%
55%
Having or taking on too much debt
27%
Not being able to keep or find a job

10% 16%
because of age
0%
53%
26%
26%
20%
40%
60%
80%
100%
African American
and Hispanic groups
present higher levels of
worry about affording
emergencies (about twothirds each) and bills
(approximately six in ten).
Boomer:
How frequently do you worry about ... when it
comes to your personal financial situation?
Base: New York City Boomer Voters
Often
Sometimes
Not saving enough
39%
Not planning enough for retirement
27%
31%
Having an unexpected emergency

that you wont be able to pay for
25%
Not being able to pay your bills
22%
Having or taking on too much debt
22%
Not being able to keep or find a job

because of age
17%
0%
30%
61%
31%
57%
27%
24%
15%
20%
A larger share of
Hispanics worry often
about taking on too much
debt (33% often, 56%
total).
66%
49%
46%
32%
40%
60%
80%
100%
Asian American &

Pacific Islander Gen
X and Boomers are more
likely to worry about job
security of older workers
(41%) relative to other
financial concerns.
CONFIDENCE IN RETIRING
As further confirmation that a lack of sufficient retirement planning and saving is a significant
source of insecurity, there is a substantial share of voters in both the Gen X and Boomer cohorts
lacking confidence that they will ever be able to stop working (23% and 29%, respectively). Even
larger majorities of each generation express anxiety about having enough money to live
comfortably through their retirement years.
It is noteworthy that Gen X is significantly more likely than Boomers to report feelings of anxiety
about having enough money to live comfortably in retirement: 67 percent of Gen X versus 57
percent of Boomers. The fact that anxiety levels among Gen X are equal to or worse than Boomers
suggests that retirement circumstances on the whole are not looking up for this younger
generation.
How confident are you that you will be able to retire

at some point and no longer work for money?
Base: New York City Voters in the Labor Force Age 35 to 69
Extremely
Very
Somewhat
Not too
Not at all
23% Not Confident

Gen X
15%
20%
38%
14%
9%
29% Not Confident

Boomer
15%
0%
23%
20%
31%
40%
16%
60%
13%
80%
100%
Although Gen X has more

time to accelerate savings
and planning before a
hoped-for retirement age,
they are not any more
optimistic than their
Boomer counterparts.
Sizeable portions of both
Gen X and Boomer
generations face a future
of either working
indefinitely and/or having
to reduce their standard
of living to below what is
currently considered
comfortable.
How anxious do you feel about having enough

money to live comfortably through your retirement
years?
Not anxious at all
Not very anxious
Somewhat anxious
Very anxious
80%
67% Anxious
57% Anxious
60%
45%
36%
40%
20%
13%
20%
22%
22%
20%
21%
0%
Gen X
Boomer
10
For African American/Black labor force participants in New York City there is a particularly
strong generational skew in expressions of retirement confidence. Relative to other Boomers in the
labor force, Black Boomers tend to be more confident about their ability to achieve retirement. At
the same time, Black Gen X is slightly less confident they will ever be able to retire. As a result,
Black Gen X appears to exhibit overall weaker retirement confidence and heightened anxiety
compared to their Boomer counterparts.
Among Hispanics in the labor force, about a third of each generation is not confident they will ever
be able to stop working for money.
Asian American and Pacific Islander Gen X is most likely to express middling retirement
confidence, with 51 percent somewhat confident they will ever be able to retire and stop working
for money.
How confident you will ever be able to retire and no longer work for money?
Base: New York City voters in the

labor force, age 35 to 69
African
American/Black
Hispanic/
Latino
Asian American &

Pacific Islander
Gen X
Boomer
Gen X
Boomer
Gen X
Boomer
CONFIDENT
Extremely
Very
Somewhat
69%
18%
17%
34%
78%
15%
24%
39%
66%
13%
16%
37%
69%
12%
24%
33%
73%
9%
13%
51%
67%
14%
22%
31%
NOT CONFIDENT
29%
21%
32%
30%
28%
29%
11
Among the 72 percent of voters age 35 to 69 currently in the New York City labor force who expect
to retire, the average age of expected retirement is 65 for both Gen X and Boomers. However, six in
ten Gen Xers expect to retire at age 65 or before, whereas a larger percentage of working Boomers
report an expected retirement at older ages.10 Although Gen X has more time to build up savings,
their expectations may be unrealistic and suggest a perceptual gap considering nearly one-third of
New York States present day near retirees are at risk of retiring with incomes below poverty
level.11
Expected Retirement Age

Base: New York City Voters in the Labor Force Age 35 to 69,
At Least Somewhat Confident They Will Retire
Gen X
60%
40%
Boomer
33%
25%
27%
21%
18%
20%
22%
26%
12%
6%
9%
0%
Under 65
65
66 to 69
70 and over
Don't know
Having access to an employer-sponsored retirement savings plan makes a significant difference in

worker expectations about working into later life. Thirty-six percent of those with access to
workplace retirement plans expect to retire under age 65 compared to only 17 percent of those
without access. On the other end of the spectrum, 23 percent of those without access to a
workplace retirement are unsure at what age they will retire, versus 7 percent of those with access
to a plan saying the same.
Expected Retirement Age

by Access to Workplace Retirement Plan
Base: New York City Voters in the Labor Force Age 35 to 69,
At Least Somewhat Confident They Will Retire
60%
40%
With Access
Without Access
36%
27%
23% 23%
20%
17%
23%
21%
12%
7%
7%
0%
Under 65
65
66 to 69
70 and over
Don't know
10
Similar results reported nationally: Gen X workers are significantly more likely than Boomer workers to expect to retire at age 65 (36% vs 18%).
https://www.transamericacenter.org/docs/default-source/resources/center-research/tcrs2014_sr_three_unique_generations.pdf
11
Are U.S. Workers Ready for Retirement? Schwartz Center for Economic Policy Analysis. 2014.
http://www.economicpolicyresearch.org/images/docs/research/retirement_security/Are_US_Workers_Ready_for_Retirement.pdf
12
ACCESS TO RETIREMENT PLANS (AMONG EMPLOYED 12)
Which of the following ways to save for retirement does

your current employer provide?
Base: Currently Employed New York City Voters Age 35 to 69
Both Defined Benefit and Defined Contribution
DC Only
DB Only
None
NET PLAN
ACCESS
Defined Contribution
(such as 401k, 403b)
Total
41%
Gen X
41%
Boomer
43%
Small Business
Owner or
21%
0%
21%
24%
17%
17%
20%
9%
8%
9%
6%
40%
26%
Total = 62%
Gen X = 65%
Boomer = 60%
Small Business = 38%
25%
Defined Benefit
27%
(traditional pension plan)
52%
60%
80%
100%
Total = 50%
Gen X = 49%
Boomer = 52%
Small Business = 27%
While many workers in both generations have access to both Defined Contribution and Defined
Benefit plans, 25 percent of Gen X workers and 27 percent of Boomer workers in New York City
have no access to a workplace retirement savings plan. Among owners and employees of small
businesses, half (52%) have no access at all to a workplace retirement savings plan a share
similar to that of all private sector workers in New York State without access to savings through
their employer (54%).13
12
Survey data includes both public and private sector workers.

Fifty-four percent of private sector employees or 3,621,611 New York workers had no access to retirement plans through their employer (average
2010-2012). http://www.aarp.org/politics-society/advocacy/financial-security/info-2014/americans-without-retirement-plan.html
13
13
RETIREMENT SAVINGS BEHAVIOR
Workplace Retirement Plans

(Among Workers)*
Base: Currently Employed New York City Voters
Age 35 to 69
No Access to Workplace Retirement Plan
Do Not Participate in Workplace Retirement Plan
70%
80%
60%
40%
43%
44%
42%
26%
52%
27%
25%
Taking into account plan participation,

active retirement saving at work is even
less common than access alone. Forty-two
percent of Gen X workers and 44 percent
of Boomer workers are not saving through
a workplace retirement plan. Largely due
to the limited availability of plans for
small business owners and employees, as
many as 70 percent of this group of
workers are not actively saving for
retirement through a workplace plan.
20%
0%
Total
Gen X
Boomer
Small Business
Owner/
Employee
Total Retirement Savings
Without workplace retirement plans, it is

even more important to build up personal
savings through an IRA or other
retirement savings plan. However, just 42
percent of surveyed New York City voters
age 35 to 69 have done so.

38%
42%
39%
Total
34%
Gen X
43%
46%
42%
42%
Boomer
Personal
32%
Small Business
Owner or
Employee
None
Employer
sponsored
38%
48%
29%
0%
20%
40%
60%
When taken together and on net, 34

percent of Gen X voters in New York City
and 42 percent of Boomers are not
actively saving for retirement - either
through a work sponsored or a personal
retirement savings plan. Though nearly
half (48%) of small business owners and
employees are saving in personal
retirement savings accounts outside of
work, 38 percent still have no retirement
savings account at all.
80%
African American/Black Gen X is most likely to be saving through workplace plans (52%).
Hispanic/Latino Gen X and Boomers are least likely to be saving in any kind of retirement accounts (46% of
Gen X and 58% of Boomers are not saving).
Asian American & Pacific Islander Gen X and Boomers have higher reported participation in personal
retirement accounts (47%) than workplace accounts (37%).
*Note: Survey data include both public and private workers.
14
RETIREMENT INCOME EXPECTATIONS

In spite of lagging participation in retirement plans or savings accounts, both Gen X and Boomers
are most likely to expect their largest share of retirement income to come from a retirement
savings plan. But, when it comes to expectations of Social Security, there are significant
differences between the generations.
Three-fourths of Gen X says their savings will provide the largest share of their income in
retirement either from a retirement plan (56%) or their own personal savings outside of a
retirement plan or account (21%). Just 16 percent of Gen X says that Social Security will be their
largest share of income and onethird does not expect to receive any
Percent Expecting Each Source to Provide the
Social Security income at all.
Largest Share of Retirement Income
Among Boomers, twice as many

(33%) say Social Security will be
their largest share of income in
retirement and just 14 percent do
not expect to receive any Social
Security income at all in retirement.
56%
44%
A retirement savings plan,

like a pension, 401k or IRA
31%
16%
Social Security
33%
28%
Personal savings or
investments not in a
retirement plan
21%
17%
31%
Gen X
Boomer
No Access to
Workplace
Retirement Plan
6%
6%
9%
Other/Don't Know
0%
20%
40%
60%
80%
100%
Role or Expected Role of Social Security in

Retirement Income
Only Source
Major Source
Minor Source
None
67% Any SS Income
Gen X
5% 11%
50%
33%
86% Any SS Income
Boomer
No Access to
Workplace
Retirement Plan
17%
16%
53%
14%
76% Any SS Income
13% 15%
0%
20%
49%
40%
60%
24%
80%
100%
Generational expectations about the

role of Social Security are fairly
consistent across multicultural
voter groups. Hispanic Boomers are
most likely to expect Social Security
to be their sole source of income in
retirement (28%) which is not
surprising given their lower rates of
retirement saving.
Among workers without access to
workplace retirement plans, nearly
half have personal retirement plan
accounts such as an IRA (46%) and
just under one-third (31%) expect
their personal retirement plan to be
their major source of income.
Roughly equal portions expect
personal savings outside of
retirement accounts (31%) or Social
Security (28%) to provide their
largest share of income, but a fairly
sizeable portion (24 percent) do not
expect to receive any Social Security
income at all.
15
Workers currently without access to retirement plans at work see the value of such plans. More
than three-fourths (78%) positively affirm they would participate in a way to save for retirement at
work if their employer offered it. Gen X workers in particular are even more likely to take
advantage of employer-offered plans to save (82% likely) with a large majority indicating the
strongest degree of likelihood. Seventy-four percent of Boomer workers in New York City without
access to a workplace retirement savings plan would participate in a plan at work if one became
available. A similar majority of small business owners and employees (73%) also would take
advantage of a plan to save for retirement if one were available to them through work.
If your employer offered a way to save for retirement,

how likely would you be to take advantage of it?
Base: Currently Employed New York City Voters Age 35 to 69
Without Access to Workplace Retirement Plan
Very
Somewhat
Not very
Not at all
Not sure/Dont know
78% Likely
Total
62%
16%
6% 10% 5%
82% Likely
Gen X
71%
11% 8% 4%5%
74% Likely
Boomer
51%
0%
20%
23%
40%
60%
4% 16% 5%
80%
100%
16
DEBT AND OTHER BARRIERS TO SAVING

Many New York City voters age 35 to 69 consider current expenses a financial barrier to saving for
retirement. In fact, in both generational cohorts, not having enough money left after paying bills is
the most reported obstacle to saving for retirement years, with 62 percent overall reporting this as
a barrier to saving.
Just one hurdle identified in the survey is significantly more likely to be experienced by Boomers
than Gen X: facing a major health issue. For their part, Gen X is significantly more likely than
Boomers to cite two barriers to
saving for retirement: paying
Major Obstacles to Saving For Retirement Years
for their childrens education
(52%) and having to pay off
65%
No money left after paying bills
debt (49%). Although a larger
59%
share of Gen X names these as
52%
Paying for childrens education
43%
major obstacles, there are also
49%
Losing a job or taking a big pay cut
significant portions of Boomers
44%
affected by both at least four
41%
Facing a major health need
50%
in ten each.
49%
44%
Having a lot of debt to pay off

New home purchase or move
42%
36%
Caring for an elderly parent or

relative
37%
36%
Gen X
Boomer
24%
25%
Decreased home value

0%
20%
40%
60%
80%
Types of Loans or Debt Currently Held

75%
81%
70%
Any Loan/Debt
(NET)
52%
53%
51%
Credit card
38%
42%
35%
Home loan
24%
32%
16%
Student loan
Gen X
23%
27%
20%
Auto loan
Boomer
9%
10%
8%
Any other type of

loan or debt
0%
14
Total
20%
40%
60%
80%
100%
Hispanic Gen X and Boomer

voters are more likely to
experience all of the listed
obstacles to retirement, with an
especially high skew on facing a
major health need (60% overall).
Family caregiving is an
economic barrier to retirement
mentioned by approximately
half of each multicultural group
a significantly larger share
than the overall population.
In its ongoing Retirement
Confidence Survey, the
Employee Benefit Research
Institute (EBRI) has
consistently found the level of
debt among workers negatively
impacts retirement
confidence.14 In New York City,
the majority of Gen X and
Boomer aged voters (75%) have
some form of debt. Credit cards
2015 Retirement Confidence Survey, Employee Benefit Research Institute. http://www.ebri.org/surveys/rcs/2015/
17
(52%) are the most commonly reported, followed by home loans (38%); student loans (24%); and
auto loans (23%). Gen X is more likely to have nearly all types of debt included in the survey
compared to Boomers most notably
student loans (32% vs. 16%).
Current and Expected Future Student Loan
Holders
100%
Current or Future (Net)
80%
60%
40%
Current
Future
69%
53%
24%
32%
29%
38%
37%
16%
20%
22%
0%
Total
Gen X
Boomer
In What Ways Has Paying Off Student Loan

Debt Affected You?
At least two-thirds of current and

future student loan holders say
paying off such debt has made or will
make it harder to save for retirement.
Significant proportions also say it has
a negative impact on paying bills or
affording a home.
Base: Current Student Loan Holders Among New

York City Voters Age 35 to 69
Harder to save for
retirement
65%
Harder to pay other bills

or make ends meet
With regard to student loans

specifically, about one-fourth (24%) of
Gen X and Boomer voters currently
have student loan debt. Even more
(29%) expect to have student loans in
the future. One-third of Gen X voters
currently have student loans and
another 37 percent expect to become
student loan holders in the future.
Among Boomers, levels are relatively
lower but still four in ten overall are
either current or future expected
student loan borrowers.
54%
Harder to afford a home
40%
0%
20%
40%
60%
80%
100%
In What Ways Do You Worry that Paying Off

Student Loan Debt Will Affect You?
Hispanic student loan holders

are most likely to affirm that their
student loans have made it hard
to save for retirement (77%);
make ends meet (67%); and
afford a home (56%).
Base: Expected Future Student Loan Holders

Among New York City Voters Age 35 to 69
Harder to save for
retirement
70%
Harder to pay other bills

or make ends meet
Hispanic and Asian

American & Pacific
Islander Gen Xers are most
likely to take student loans in the
future (46% and 48% likely,
respectively).
64%
Harder to afford a home
53%
0%
20%
40%
60%
80%
African American/Black
Gen X and Boomers are more
likely to currently have student
loan debt (39% and 23%,
respectively).
100%
18
NEW YORK AFFORDABILITY

How concerned are you about your ability
to pay RENT/MORTGAGE in the future?
Extremely concerned
Gen X
17%
Boomer
15%
0%
Very concerned
22%
64%
25%
20%
20%
Somewhat concerned
59%
24%
40%
60%
80%
100%

to pay PROPERTY TAXES in the future?
Base: Home Owners among
New York City Voters Age 35 to 69
Extremely concerned
Gen X
Boomer
Very concerned
12% 15%
15%
0%
25%
21%
20%
52%
24%
40%
Somewhat concerned
60%
60%
80%
100%

to pay UTILITY BILLS in the future?
Extremely concerned
Gen X
Boomer
Very concerned
11% 14%
13%
0%
22%
20%
28%
21%
40%
As discussed above, having enough

money left after paying bills is the
most commonly cited obstacle to saving
for retirement among Gen X and
Boomers in New York City. Housing
expenses in particular are a concern for
a majority: half or more of each group
is at least somewhat concerned about
their ability to pay rent or mortgage,
property taxes or utility bills in the
coming years. Even larger shares of
African American and Hispanic
residents express the same concern
about affordable housing into the
future. (See box on following page.)
A larger share of Gen X cites concern
about paying for rent or mortgage
payments than taxes or utilities in the
coming years. Nearly two-thirds (64%)
of Gen X voters in New York City are
concerned about their ability to pay for
the rent or mortgage in the future.
Fifty-nine percent of Boomers are
equally concerned about affording this
primary monthly expense for housing.
Among home owners, 52 percent of Gen
X and 60 percent of Boomers are at
least somewhat concerned about
affording property taxes in the coming
years. Home energy bills are also a
worry to similar portions.
Somewhat concerned
53%
56%
60%
80%
100%
19
With such large proportions sharing concern about housing affordability, it is not surprising that a
large majority want elected officials to support rent stabilization in New York City. More than
three-fourths of Gen X and Boomer voters agree that rent stabilization should be supported by
elected officials at the city and state levels. Moreover, most in agreement - fifty-five percent of Gen
X voters and sixty-one percent of Boomer voters - agree strongly with this statement. In African
American and Hispanic communities, comparatively larger proportions express support for rent
stabilization (89% and 88%, respectively).
New York City and New York State Elected Officials Should
Suport Rent Stabilization
Strongly agree
Somewhat agree
Neither
Somewhat disagree
Strongly disagree
76% Agree
Total
58%
18%
9%
6% 7%
9%
7% 8%
76% Agree
Gen X
55%
21%
77% Agree
Boomer
61%
0%
20%
16%
40%
60%
9%
6% 7%
80%
100%
African American and Hispanic voters are even more likely than overall Gen X and
Boomer aged New Yorkers to be concerned about housing affordability and
almost nine in ten agree officials should support rent stabilization.
Base: New York City voters 35 to 69
Total
African
American/
Black
Concerned about future affordability of:

RENT/MORTGAGE
PROPERTY TAXES
UTILITIES
62%
55%
55%
74%
65%
70%
70%
63%
68%
57%
59%
55%
Agree that elected officials should support

rent stabilization
76%
89%
88%
68%
Hispanic/
Latino
Asian &
Pacific
Islander
20
Three out of five (60%) New York City voters age 35 to 69 say they are at least somewhat likely to
leave New York in the future. A 2014 AARP survey of New York voters found that 60 percent of
future Baby Boomer retirees were likely to leave New York State after retiring, thus creating
economic implications for the state economy when retirees take their consumer expenditures
elsewhere. 15 Here again in this survey, a near similar proportion of Boomers age 51 to 69 is at
least somewhat likely to leave the state in the future (56%). Moreover, Gen X presents even
stronger intent to leave the state post-retirement. One-fifth (20%) of Gen X voters in New York
City can scarcely see themselves retiring in the state, reporting extreme likelihood of leaving. In
total, two-thirds of Gen X consider themselves at least somewhat likely to leave.
How likely are you to leave New York State and live somewhere
else once you retire/in the future?
Extremely likely
Very likely
Somewhat likely
Not very likely
Not at all likely
61% Likely
Total
17%
15%
29%
19%
19%
66% Likely
Gen X
20%
16%
30%
17%
15%
56% Likely
Boomer
15%
0%
15%
20%
26%
40%
19%
60%
24%
80%
100%
In all three multicultural populations included in this survey, Gen X is significantly more likely
than Boomers to intend to leave New York. Stated intent to leave New York State reaches seven in
ten among African American Gen X (70%) and Hispanic Gen X (71%).
15
2014 State of the 50+ in New York State, AARP Research. www.aarp.org/nystate50plus
21
SUPPORT FOR A STATE FACILITATED RETIREMENT SAVINGS OPTION

In order to help close the gap in access to
retirement savings plans, New York City
voters age 35 to 69 support a state facilitated
retirement savings option for New York
State. Nearly eight in ten either strongly
(51%) or somewhat (25%) support such a
proposal.
PROPOSED STATE FACILITATED

RETIREMENT SAVINGS OPTION FOR
WORKERS
One way to help more New Yorkers save would be for
the state to set up a retirement savings plan, similar to
a 529 college savings plan, where workers can
contribute to a private retirement account that is
professionally managed. Workers can choose whether
or not to participate, and the account would be
portable from job to job. The plan would have low fees
and not cost taxpayer dollars.
A state facilitated retirement savings option

would most directly benefit those without
access to a plan in their workplace, including
small business owners and employees who
tend to have lower levels of access currently.
These two sub-groups of New York City
workers present similarly strong levels of
support for such a solution. Seventy-seven
percent of workers without access to a
workplace retirement plan support a proposal for a state facilitated plan; and 76 percent of small
business owners and employees support it. Support is similarly strong across multicultural
segments of African American, Hispanic and Asian American and Pacific Islander Gen X and
Boomers.
How strongly do you support or oppose the proposal for a state

facilitated retirement savings option?
Base: New York City Voters in the Labor Force Age 35 to 69
Strongly support
Somewhat support
Neither/nor
Somewhat oppose
Strongly oppose
76% Support
Total
51%
25%
9% 5% 6%
78% Support
Gen X
50%
28%
8% 4% 6%
74% Support
Boomer
52%
22%
10% 5% 7%
77% Support
Without Access to
Workplace Retirement
Plan
59%
18%
9%
7% 6%
76% Support
Small Business Owner or

Employee
53%
0%
20%
23%
40%
60%
9% 5% 8%
80%
100%
22
When asked about potential features in a state facilitated savings option for retirement, all
features are considered important. The top-ranked important feature is portability. Almost all
(92%) believe account funds should be portable so that the money travels with the owner. About
nine in ten also say it should be a low cost to taxpayers (92%); easy to use (92%); available to
everyone (91%); have a low cost to participants (91%); provide tax advantages to enrollees (89%);
and be voluntary (89%). Many (82%) also believe it is important for the money to be professionally
managed.
If New York were to implement such a (retirement savings) plan, how

important would each feature be?
Very Important
Somewhat Important
Portability (account can move from job to job)
85%
7%
Low cost to taxpayers
76%
16%
Easy to use
74%
18%
Available to everyone in the state
73%
18%
Low cost to participants
72%
19%
Tax advantages for enrollees
67%
22%
Voluntary enrollment
67%
22%
Professional money management
55%
0%
20%
27%
40%
60%
80%
100%
Most (82%) New York City voters age 35 to 69 agree that New York State elected officials should
support creating a state managed retirement savings plan so more workers have an opportunity to
save for retirement. Fifty-three percent strongly agree that this should be a concern of elected
officials.
A similarly large proportion (83%) is concerned that New Yorkers who have not saved enough for
retirement will become reliant on public assistance. Gen X and Boomers are comparably worried
about this outcome and the proportion of those concerned is consistently high across all
multicultural groups as well. However, among African American, Hispanic and Asian voters,
Boomers are more likely to express a more intense level of concern with at least six in ten very
concerned that retirees who are ill prepared will have to rely on public aid.
23
AARP CIVIL STATUS
High school graduate or less
23%
Post high school or 2 year degree
23%
INCOME
POLITICAL
VIEWS
PARTY
AFFILIATION
Married or living with a partner
EDUCATION
DEMOGRAPHIC PROFILE OF RESPONDENTS

Widowed
62%
4%
Divorced or separated
12%
Never married
21%
AARP Member
25%
AARP Non-Member
72%
4 year degree
25%
Post graduate study or graduate degree
28%
Democrat
54%
Republican
13%
Independent
19%
Something else
10%
Conservative
21%
Moderate
28%
Liberal
29%
None of these
18%
<$30K
14%
$30K-<$50K
14%
$50K-<$75K
15%
$75K-<$100K
13%
$100,000-<$150,000
14%
$150,000+
16%
Don't know/Refused
14%
AGE
35-44
32%
45-50
16%
51-60
34%
61-69
RACE
Asian
4%
Black or African American
17%
Hispanic or Latino
23%
White or Caucasian
Other
Bronx
BOROUGH
19%
46%
7%
12%
Brooklyn
33%
Manhattan
22%
Queens
23%
Staten Island
10%
24
Civil Status
Married or living with a partner
Widowed
Divorced or separated
Never married
Membership
AARP
AARP Non-Member
Education
High school graduate or less
Post high school or 2 year degree
4 year degree
Post graduate or graduate degree
Party Affiliation
Democrat
Republican
Independent
Something else
Political Views
Conservative
Moderate
Liberal
None of these
Income
<$30K
$30K-<$50K
$50K-<$75K
$75K-<$100K
$100,000-<$150,000
$150,000+
Don't know/Refused
Race/Ethnicity
Asian
Black or African American
Hispanic or Latino
White or Caucasian
Other
Borough
Bronx
Brooklyn
Manhattan
Queens
Staten Island
Gen X
Boomers
65%
1%
7%
24%
59%
7%
17%
17%
8%
90%
41%
57%
19%
25%
26%
29%
27%
22%
23%
26%
51%
13%
19%
12%
58%
13%
18%
7%
18%
30%
30%
18%
24%
26%
28%
17%
11%
12%
14%
14%
13%
21%
15%
18%
16%
17%
11%
14%
12%
13%
2%
17%
23%
48%
6%
4%
17%
23%
45%
8%
13%
33%
17%
26%
11%
11%
32%
27%
21%
9%
25
METHODOLOGY
AARP 2015 New York State Gen X-Boomer Survey (New York City Sample)
Prepared by Precision Opinion for AARP
June 2015
SUMMARY:
The AARP 2015 New York State Gen X-Boomer Survey was conducted as a telephone survey among
registered voters age 35 to 69 in the state of New York and with oversamples in seven targeted geographies,
including New York City. Survey results from the New York City specific sample are discussed in this report.
The survey collected the opinions of registered voters on issues related to financial worries, retirement
security, affordable housing, and rent stabilization. The survey was approximately 15 minutes in length. The
interviews were conducted in English and Spanish by Precision Opinion from February 26th to May17th,
2015. Respondents were sampled from a voter list with a total of 800 interviews completed for the NYC
base sample: 401 among 35 to 50 year old voters (Gen X) and 399 among 51 to 69 year old voters
(Boomer). Oversample segments were also created in order to complete a total of 800 interviews among
self-identified African-American voters, 800 Hispanic voters, and 353 Asian American and Pacific Islander
voters. The samples were split into two strata by age (Gen X and Boomer) and targets were set in order to
achieve 400 interviews in each of these age cohorts. In addition, quotas were set by gender within age
group in order to maintain the proper representation of males and females. The margin of sampling error for
the New York City sample of 800, as well as the ethnic oversamples of 800, is +/-3.5%. The margin of
sampling error for the Gen X and Boomer samples of 400 each is +/-5.0%.
The New York City sample was one of the segments completed in a series of related segments that
comprised the overall project. Separate releases discuss each of the other segments. Details on the design
and execution of the survey are discussed below.
DESIGN AND DATA COLLECTION PROCEDURES:

Sample
The survey respondents were sampled from a registered voter list provided by L2 (Labels & Lists). The voter
list was age targeted to 35-69 based on L2s database of registered voters in New York City. The sample list
was a blended landline and cell phone list. A total of 198,538 records were dialed. From this total, 43,937 cell
phone records were dialed, from which 265 surveys were completed. For multicultural oversamples, survey
26
respondents were sampled from a list of voters identified as likely African American, Hispanic and Asian
American and Pacific Islander. For analysis, respondents from the NYC base sample who self-identified as
African American, Hispanic or Asian American or Pacific Islander were combined with qualified respondents
from the targeted oversamples.
Questionnaire Development and Testing
The questionnaire was developed by AARP staff. Prior to this projects launch, testing was completed
internally at Precision Opinion and additionally by AARP staff. Further, Precision Opinion ran a simulated
data set and conducted a full review of said data prior to commencing field work.
Contact Procedures
Precision Opinion asked to speak with the registered voter listed on file. If that person was unavailable,
Precision Opinion asked to speak with another registered voter in the household aged 35-69. Sample
records identified as likely Hispanic were dialed by bilingual interviewers. The respondent was able to
choose whether to continue the survey in Spanish or English.
WEIGHTING
For each segment, the sample was weighted by gender to reflect the population of registered voters in New
York City age 35-69. The sample was also weighted by gender within the Generation X and Baby Boomer
strata. The overall samples (totals for NYC base, African-American, Hispanic, and Asian) were weighted by
age as well. Finally, the NYC base sample was weighted by race/ethnicity. County proportions (distribution
of residence across the 5 counties/boroughs of NYC) were evaluated and a decision was made not to weight
on this variable. The distribution of interviews completed in each county is shown below.
Total NYC
Asian American &
(Base sample)
African American
Hispanic
Pacific Islander
Bronx
12%
16%
25%
6%
Kings (Brooklyn)
33%
44%
26%
21%
New York (Manhattan)
22%
12%
22%
16%
Queens
23%
27%
20%
50%
Richmond (Staten Island)
10%
1%
7%
7%
The following tables contain more information about the weighting factors for each sample.
27
NYC Base
Universe Quotas
Gen X
Boomer
Survey Actuals
Total
Gen X
Weight Factors
Boomer
Total
Gen X
Boomer
Total
Male
44%
44%
44%
44%
45%
44%
101%
99%
100%
Female
56%
56%
56%
56%
55%
56%
100%
101%
100%
TOTAL GENDER
100%
100%
100%
100%
100%
100%
African-American
17%
17%
17%
22%
22%
22%
0.7708
0.774664 0.77272727
Hispanic
23%
23%
23%
18%
21%
20%
1.29257
1.072461 1.17197452
Asian
2%
5%
4%
2%
5%
4%
0.88692
1.002607 1.03225806
NHW
58%
55%
56%
58%
52%
55%
1.00173
1.065478 1.02752294
100%
100%
100%
100%
100%
100%
TOTAL ETHNICITY
Gen X
47.5%
50.1%
0.00947536
Boomer
52.5%
49.9%
0.01052737
TOTAL AGE
100%
NYC African American
Universe Quotas
Gen X
Boomer
Survey Actuals
Total
Gen X
Weight Factors
Boomer
Total
Gen X
Boomer
Total
Male
39.6%
40.3%
40.0%
39.8%
40.3%
40.0%
0.99615
1.001938
0.999275
Female
60.4%
59.7%
60.0%
60.3%
59.8%
60.0%
1.00252
0.998678 1.00046667
TOTAL GENDER
100%
100%
100%
100%
100%
100%
Gen X
48.9%
50%
0.978
Boomer
51.1%
50%
1.022
TOTAL AGE
100%
NYC Hispanic
Universe Quotas
Gen X
Boomer
Survey Actuals
Total
Gen X
Weight Factors
Boomer
Total
Gen X
Boomer
Total
Male
42.8%
42.3%
42.6%
42.8%
42.3%
42.5%
1.00201
1.000734 1.00129412
Female
57.2%
57.7%
57.4%
57.3%
57.8%
57.5%
0.99848
0.999446 0.99902609
TOTAL GENDER
100%
100%
100%
100%
100%
100%
Gen X
49.4%
50%
0.9876
Boomer
50.6%
50%
1.0124
TOTAL AGE
100%
Universe
NYC Asian and Pacific Islander
Gen X
Boomer
Survey Actuals
Total
Gen X
Weight Factors
Boomer
Total
Gen X
Boomer
Total
Male
43.71%
45.52%
44.58%
50.26%
50.00%
50.14%
0.86969
0.91030
0.88907
Female
56.29%
54.48%
55.42%
49.74%
50.00%
49.86%
1.13166
1.08968
1.11156
100.00%
100.00%
100.00%
100.00%
100.00%
100.00%
TOTAL GENDER
Gen X
51.75%
55.24%
0.93682
Boomer
48.25%
44.76%
1.07797
TOTAL AGE
100.00%
Note: Universe proportions according to L2 database for all registered voters, New York City age 35-69
28
RESPONSE RATE/COOPERATION RATE/REFUSAL RATE

The response rate for this study was measured using AAPORs response rate 3 method. The cooperation
rate was measured using AAPORs cooperation rate 3 method. The refusal rate was measured using
AAPORs refusal rate 3 method. The table below contains these rates.
Response Rate
Cooperation Rate
Refusal Rate
Total
10%
86%
7%
Gen X
11%
87%
6%
Boomer
10%
84%
8%
*Source: AAPOR Outcome Rate Calculator Version 2.1 May 2003
ANNOTATED QUESTIONNAIRE
A fully annotated questionnaire and more information about this survey can be found at:
www.aarp.org/nygenxandboomers.
29
AARP New York

780 Third Ave 33rd Floor
New York, NY 10017
Phone: (866) 227-7442
Email: nyaarp@aarp.org
Website: http://www.aarp.org/ny
AARP Research
601 E Street NW
Washington, DC 20049
www.aarp.org/research
30

2015 NYC Survey of Gen X Boomer Voters REPORT Final

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2015 NYC Survey of Gen X Boomer Voters REPORT Final

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KEY SURVEY FINDINGS

In both cohorts, a majority feels anxious about being able to have a

34 percent of Gen X and 42 percent of Boomers have neither personal nor

Gen X indicates a strong likelihood to leave New York during retirement

Housing affordability into the future is a concern for a majority of both

Sixty-nine percent of Gen X is either a current or expected future holder of

Gen X has significantly lower expectations of Social Security than Boomers:

There is widespread voter support to improve access to workplace

African American voters are more likely to worry about affordability

Asian American and Pacific Islanders express relatively greater

Levels of concern for affordable housing and support of rent

ABOUT THE SURVEY & REPORT TERMS

Terms In This Report

The sampling methodology was designed to ensure that

Workers: Currently employed

The majority (75%) of survey respondents is currently in the

Type of Labor Force Partricipation

Employment Status of Survey

Base: New York City Voters Age 35 to 69

Base: New York City Voters Age 35 to 69

Other Out of Labor Force

Looking for Work

DETAILED SURVEY FINDINGS

Not saving enough

Not planning enough for retirement

Having an unexpected emergency

Not being able to pay your bills

Having or taking on too much debt

Not being able to keep or find a job

Not saving enough

Not planning enough for retirement

Having an unexpected emergency

Not being able to pay your bills

Having or taking on too much debt

Not being able to keep or find a job

Asian American &

How confident are you that you will be able to retire

23% Not Confident

29% Not Confident

Although Gen X has more

How anxious do you feel about having enough

Not very anxious

Base: New York City voters in the

Asian American &

Expected Retirement Age

Having access to an employer-sponsored retirement savings plan makes a significant difference in

Expected Retirement Age

ACCESS TO RETIREMENT PLANS (AMONG EMPLOYED 12)

Which of the following ways to save for retirement does

(traditional pension plan)

Survey data includes both public and private sector workers.

RETIREMENT SAVINGS BEHAVIOR

Workplace Retirement Plans

Taking into account plan participation,

Total Retirement Savings

Without workplace retirement plans, it is

Base: New York City Voters Age 35 to 69

When taken together and on net, 34

*Note: Survey data include both public and private workers.

RETIREMENT INCOME EXPECTATIONS

Among Boomers, twice as many