·
Financial
security tops the list of changes that would most increase happiness
(39%), and is the most commonly cited obstacle to prioritizing
things that would make people happier (33%).
·
When given a choice, 71% of respondents prefer extra money to extra time in the day.
·
In
reflecting on their choices to date, the one thing 21% of respondents
wish they had done differently is make smarter financial decisions.
Furthermore 12% wish they had pursued a career path with more financial
security.
What is a Life Budget?
The
primary goal of the Life Reimagined study was to understand people’s
current and ideal “Life Budgets” – how they allocate their time, energy
and passion across various areas of their lives. People were able to
identify one “budget” that was their reality and another that was their
preference, bringing to light the differences between what we want and
what we do. Unsurprisingly, one’s aspirations
do not always match reality, and this is primarily a result of the
pursuit of financial security.
“This
is often the time of year when we start to reflect on our lives and see
that what we are doing and what we want to be doing are two different
things,” says Emilio Pardo, Executive Vice President at AARP and
President of Life Reimagined. “Our goal is to give practical and useful
advice to help make changes – one small step at a time. The holidays and
a new year can be overwhelming, and we are here
to help.”
The study showed several examples of the differences between current priorities and ideal ones:
·
Out
of nine designated categories, the average person aged 40-59, budgets
21% of their time, energy, and passion to their job or career.
·
However,
the preference is only 12%, ranking below significant other (23%) and
children (18%), and tying with health and wellness (12%).
·
In
contrast, when asked how one derives self-worth, 71% responded family
and close friends, while only 29% indicated that their job defined
their self-worth.
Life Reimagined Takes Action
Just
in time for the New Year, Life Reimagined offers new, free tools and
content, developed by Life Reimagined Institute’s thought leaders,
focused on making and keeping resolutions. According to Dr. Christine
Whelan, professor of sociology, author and Life Reimagined expert, the
reason so many people fail to keep their resolutions is because they are
making the wrong ones. With the platform’s
two newest programs, Whelan takes a two-step approach, first with “Resolutions in Focus,”
which invites users to ask why they want to make a change and
ensures that goals are based on one’s values and priorities, not outside
influences. Whelan’s second program tackles the next step – now that
users know the right resolutions to make, “Complete
Your Goal With Self Control,” shares best methods for harnessing the self-control necessary to commit to those resolutions and bring about positive change.
Knowing
that financial woes are top-of-mind as the Life Reimagined community
reassesses its “life budgets,” leading financial expert Jean Chatzky
offers advice on the best ways to successfully transition their careers
after having already established themselves in a specific field. As the
keynote speaker at multiple Reimagine Work events across the country,
Jean shared insights into how to be fiscally
responsible when changing jobs or launching a business. For those who
were not able to see her presentation in-person, she shares her best
tips on how to budget for your next big career move on
LifeReimagined.org in a signature article, “Money
is the Answer. What’s the Question?”
While
69% of survey participants responded saying they were satisfied with
what they had accomplished in life, the discrepancies between
respondents’
actual and ideal “life budgets” indicate that the Life Reimagined
community overall would like to make changes to improve their happiness.
The central idea of Life Reimagined is the belief that small steps are
necessary to bring about change – no matter how
easy or difficult, big or small they may seem. With targeted programs
and content developed, based on the knowledge gleaned from this survey
and years of research and experience coming from the Institute, Life
Reimagined continues to uphold its commitment
to delivering a one-of-a-kind online experience aimed at guiding people
through life transitions and helping them discover new possibilities.
Full survey results are available on
LifeReimagined.aarp.org/media-kit.
# # #
About Life Reimagined
Life
Reimagined was launched by AARP in 2013 to provide a personal
guidance system to help people navigate transitions and live their
lives to the fullest. By offering online and offline experiences made
up of tools, experts and community, Life Reimagined helps people
reflect, evaluate priorities and take action to navigate
transitions and new life phases. Learn more at http://lifereimagined.aarp.org.
About AARP
AARP
is a nonprofit, nonpartisan organization, with a membership of more
than 37 million, that helps people
turn their goals and dreams into real possibilities, strengthens
communities and fights for the issues that matter most to families such
as healthcare, employment and income security, retirement planning,
affordable utilities and protection from financial
abuse. We advocate for individuals in the marketplace by selecting
products and services of high quality and value to carry the AARP name
as well as help our members obtain discounts on a wide range of
products, travel, and services. A trusted source for lifestyle
tips, news and educational information, AARP produces AARP The
Magazine, the world's largest circulation magazine; AARP Bulletin; www.aarp.org; AARP
TV & Radio; AARP Books; and AARP en Español, a Spanish-language
website addressing the interests and needs of Hispanics. AARP does not
endorse candidates for public office or make contributions to political
campaigns or candidates. AARP Foundation is an affiliated
charity of AARP that is working to win back opportunity for struggling
Americans 50+ by being a force for change on the most serious issues
they face today: housing, hunger, income and isolation. AARP has staffed
offices in all 50 states, the District of Columbia,
Puerto Rico, and the U.S. Virgin Islands. Learn more at www.aarp.org.
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