Securing the Future
October 2007 Survey Research Report
Overall results
1. In general, do you think the nation's economy is headed in the right direction or is it off on the wrong track?
| # | % | |
| Right direction | 208 | 28 |
| Wrong track | 476 | 63 |
| Not sure | 66 | 9 |
| TOTAL | 750 | |
| Net right direction | -267 | -36% |
| Right : wrong | 1:2.3 |
2. In terms of your own personal situation, are you better off, worse off, or about the same financially as you were one year ago?
| # | % | |
| Better | 177 | 24 |
| Worse | 178 | 24 |
| About the same | 396 | 53 |
| TOTAL | 750 |
3. Looking ahead, do you expect your personal financial situation to be better, worse or about the same one year from now?
| # | % | |
| Better | 220 | 29 |
| Worse | 123 | 16 |
| About the same | 379 | 51 |
| Not sure | 29 | 4 |
| TOTAL | 750 |
4. Have you personally had to sell your home, or do you know anyone who has had to sell their home or had their home mortgage foreclosed as a direct result of the current problems in the home mortgage market?
| # | % | |
| Yes | 99 | 13 |
| No | 651 | 87 |
| TOTAL | 750 | |
| Net yes | -553 | -74% |
| Yes : no | 1:6.6 |
5. Do you believe the federal government should intervene to financially help individuals who may lose their homes because they over-extended themselves financially, or do you think that is a risk they took and they should not be helped by government?
| # | % | |
| Government should help | 217 | 29 |
| Government should not help | 450 | 60 |
| Not sure | 83 | 11 |
| TOTAL | 750 | |
| Net should help | -233 | -31% |
| Should help : should not help | 1:2.1 |
6. A number of home mortgage firms either have gone bankrupt or may go bankrupt as a result of rising interest rates and the slowdown in the residential housing market. Do you think the federal government should financially assist such companies, or do you think that is a risk they took and they should not be helped by government?
| # | % | |
| Government should help | 147 | 20 |
| Government should not help | 541 | 72 |
| Not sure | 62 | 8 |
| TOTAL | 750 | |
| Net should help | -395 | -53% |
| Should help : should not help | 1:3.7 |
7. Do you own your own home?
| # | % | |
| Yes | 638 | 85 |
| No | 112 | 15 |
| TOTAL | 750 | |
| Net yes | 526 | 70% |
| Yes : no | 5.7:1 |
8. About what percentage of your take home pay goes toward your mortgage payment?
| # | % | |
| 10-20% | 125 | 24 |
| 21-30% | 103 | 20 |
| 31-40% | 33 | 6 |
| 41-50% | 28 | 5 |
| More than 50% | 19 | 4 |
| Not sure | 215 | 41 |
| Refused | 115 | |
| TOTAL | 638 |
9. Do you have an organized plan for your personal finances?
| # | % | |
| Yes | 569 | 76 |
| No | 171 | 23 |
| Not sure | 10 | 1 |
| TOTAL | 750 | |
| Net yes | 398 | 53% |
| Yes : no | 3.3:1 |
10. How important would you say it is to have an organized plan for your financial future:
| # | % | |
| Very important | 610 | 81 |
| Somewhat important | 98 | 13 |
| Somewhat unimportant | 7 | 1 |
| Not important | 18 | 2 |
| Not sure | 17 | 2 |
| TOTAL | 750 |
11. Are you now or have you ever participated in private savings programs to finance higher education costs for yourself or a member of your family?
| # | % | |
| Yes | 248 | 33 |
| No | 494 | 66 |
| Not sure | 8 | 1 |
| TOTAL | 750 | |
| Net yes | -246 | -33% |
| Yes : no | 1:2.0 |
12. What type of savings program have you utilized?
| # | % | |
| Pa tuition acct program | 32 | 13 |
| 529 savings plan | 51 | 21 |
| Bank/credit union acct | 52 | 21 |
| Mutual fund | 49 | 20 |
| State savings plan | 1 | 0 |
| Regular savings acct | 6 | 3 |
| Stock market | 2 | 1 |
| Insurance | 3 | 1 |
| Trust fund | 2 | 1 |
| Ira | 3 | 1 |
| CDs | 2 | 1 |
| U-promise | 1 | 1 |
| Savings bonds | 4 | 2 |
| Student loans | 7 | 3 |
| Other | 9 | 4 |
| Not sure | 23 | 9 |
| TOTAL | 248 |
13. Do you personally plan to retire on or near age 65 or do you anticipate working significantly past that age?
| # | % | |
| Yes/retire on/near 65 | 222 | 30 |
| No/work longer | 201 | 27 |
| Already retired | 287 | 38 |
| Not sure | 41 | 5 |
| TOTAL | 750 |
14. How confident are you that you have set enough resources aside for retirement income:
| # | % | |
| Extremely confident | 80 | 11 |
| Very confident | 199 | 27 |
| Somewhat confident | 259 | 35 |
| Confident | 279 | 37% |
| Not very confident | 102 | 14 |
| Not confident | 186 | 25% |
| Not confident at all | 84 | 11 |
| Not sure | 26 | 3 |
| TOTAL | 750 | |
| Net confident | 93 | 12% |
| Confident : not confident | 1.5:1 |
15. How much will you depend on the government for such items as retirement income, health care and other social services once you retire:
| # | % | |
| Heavily dependent | 111 | 15 |
| Somewhat dependent | 437 | 58 |
| Not dependent at all | 171 | 23 |
| Not sure | 31 | 4 |
| TOTAL | 750 |
16. Aside from social security, are you presently saving for retirement via an employer-sponsored pension program, 401k, IRA, or other investment instrument?
| # | % | |
| Yes | 418 | 56 |
| No | 325 | 43 |
| Not sure | 5 | 1 |
| Refused | 2 | |
| TOTAL | 750 |
17. Why types of savings instrument are you utilizing?
| # | % | |
| Employer-sponsored | 58 | 14 |
| Traditional pension | 29 | 7 |
| Mutual fund | 26 | 6 |
| 401k | 175 | 43 |
| 403b | 15 | 4 |
| Ira | 76 | 19 |
| All of above | 4 | 1 |
| CDs | 1 | 0 |
| Personal income | 6 | 1 |
| Stock market | 2 | 0 |
| Other | 8 | 2 |
| Not sure | 11 | 3 |
| Refused | 9 | |
| TOTAL | 418 |
18. Looking ahead to retirement, what portion of your retirement income do you expect to come from social security, and what portion do you plan to finance from private investments:
| # | % | |
| 100% Ssocial Security | 68 | 9 |
| 75% ss/25% private | 81 | 11 |
| 50% SS/50% private | 176 | 24 |
| 25% SS/75% private | 189 | 26 |
| Mostly private | 120 | 16 |
| Not sure | 94 | 13 |
| Refused | 23 | |
| TOTAL | 750 |
19. What portion of your annual income do you currently invest or save for the future:
| # | % | |
| Under 5% | 222 | 31 |
| 6%-10% | 160 | 22 |
| 11%-15% | 97 | 14 |
| 16%-20% | 66 | 9 |
| 21%-25% | 29 | 4 |
| Over 25% | 37 | 5 |
| Not sure | 103 | 14 |
| Refused | 34 | |
| TOTAL | 750 |
20. Are you or is anyone in your household presently insured for "end-of-life" expenses, such as extended nursing home care:
| # | % | |
| Yes | 148 | 20 |
| No | 588 | 78 |
| Not sure | 15 | 2 |
| TOTAL | 750 | |
| Net yes | -440 | -59% |
| Yes : no | 1:4.0 |
21. Should the government participate in paying for "end-of-life" expenses such as extended nursing home care?
| # | % | |
| Yes | 409 | 54 |
| No | 259 | 35 |
| Not sure | 82 | 11 |
| TOTAL | 750 | |
| Net yes | 149 | 20% |
| Yes : no | 1.6:1 |
22. How important is it for you to pre-plan final documents, such as a will, living will, and/or power of attorney:
| # | % | |
| Very important | 602 | 80 |
| Somewhat important | 115 | 15 |
| Somewhat unimportant | 10 | 1 |
| Very unimportant | 9 | 1 |
| Not sure | 13 | 2 |
| TOTAL | 750 | |
| Important | 717 | 96% |
| Unimportant | 20 | 3% |
| Net important | 697 | 93% |
| Important : unimportant | 36.2:1 |
23. Do you favor or oppose enactment of what's commonly referred to as the right to work law, whereby a worker cannot be compelled to join or pay fees to a labor union as a condition of employment?
| # | % | |
| Strongly favor | 261 | 35 |
| Somewhat favor | 158 | 21 |
| Somewhat oppose | 93 | 12 |
| Strongly oppose | 134 | 18 |
| Not sure | 105 | 14 |
| TOTAL | 750 | |
| Favor | 419 | 56% |
| Oppose | 226 | 30% |
| Net favor | 193 | 26% |
| Favor : oppose | 1.9:1 |
24. Do you agree or disagree that employees who choose not to join a union should still be required to pay an administration fee to a labor union if their workplace is represented by a union?
| # | % | |
| Strongly agree | 161 | 22 |
| Somewhat agree | 131 | 18 |
| Strongly disagree | 183 | 25 |
| Somewhat disagree | 200 | 27 |
| Not sure | 68 | 9 |
| Refused | 7 | |
| TOTAL | 750 | |
| Agree | 292 | 39% |
| Disagree | 383 | 52% |
| Net agree | -90 | -12% |
| Agree : disagree | 1:1.3 |
25. Age group
| # | % | |
| 18-34 | 52 | 7 |
| 35-44 | 90 | 12 |
| 45-54 | 157 | 21 |
| 55-64 | 210 | 28 |
| 65+ | 240 | 32 |
| TOTAL | 750 |
26. Income
| # | % | |
| Under $20,000 | 128 | 20 |
| $20,000-$30,000 | 94 | 15 |
| $30,000-$50,000 | 140 | 22 |
| $50,000-$75,000 | 115 | 18 |
| $75,000-$100,000 | 63 | 10 |
| Over $100,000 | 76 | 12 |
| Not sure | 29 | 5 |
| Refused | 106 | |
| TOTAL | 750 |
27. Political philosophy
| # | % | |
| Conservative | 381 | 52 |
| Liberal | 215 | 29 |
| Moderate | 100 | 14 |
| Not sure | 41 | 6 |
| Refused | 13 | |
| TOTAL | 750 |
28. Education
| # | % | |
| Less than high school | 35 | 5 |
| High school graduate | 273 | 37 |
| 2 yr degree/technical | 151 | 20 |
| 4 year degree | 156 | 21 |
| Graduate degree | 129 | 17 |
| Refused | 6 | |
| TOTAL | 750 |
29. Religious affiliation
| # | % | |
| None | 65 | 9 |
| Protestant | 174 | 25 |
| Catholic | 211 | 30 |
| Jewish | 15 | 2 |
| Christian | 88 | 12 |
| Lutheran | 34 | 5 |
| Methodist | 43 | 6 |
| Evangelical | 6 | 1 |
| Baptist | 41 | 6 |
| Episcopal | 7 | 1 |
| Mennonite | 4 | 1 |
| Pentecostal | 1 | 0 |
| Buddhist | 6 | 1 |
| Other | 8 | 1 |
| Not sure | 6 | 1 |
| Refused | 41 | |
| TOTAL | 750 |
30. Affiliation
| # | % | |
| Democrat | 370 | 49 |
| Republican | 298 | 40 |
| Independent | 69 | 9 |
| Other | 14 | 2 |
| TOTAL | 750 |
31. Gender
| # | % | |
| Male | 371 | 49 |
| Female | 379 | 51 |
| TOTAL | 750 |
