Goal Planning SurveyFinancial Goal Planning 5 Not Having a Financial Plan 23 Long-Term Savings and Retirement 31 Financial Advice 41 Confidence 49 Gender Differences 60 This document

This document contains confidential information for use by TD Ameritrade Holding Corporation and its subsidiaries.

Goal Planning Survey

September 2016

This document contains confidential information for use by TD Ameritrade Holding Corporation and its subsidiaries. 2 9/9/2016

Table of Contents

Research Method 3

Key Findings 4

Financial Goal Planning 5

Not Having a Financial Plan 23

Long-Term Savings and Retirement 31

Financial Advice 41

Confidence 49

Gender Differences 60


1,077 consumers completed a 15-minute survey May 11 to

May 16, 2016 through a national online panel.

This survey was conducted by True North Market Insights on

behalf of TD Ameritrade Holding Corporation.

The statistical margin of error is +/- 3 percent.

All respondents were screened and qualified as . . .

25 years of age or older

Decision maker in the household

Conduct 0 to 4 trades per month

$5,000 or more in investible assets

Research Method

Respondent Criteria Methodology

3 9/9/2016


Key Findings

About one half of Americans 25+ (56%) have a financial plan whether written or unwritten.

Items included in a financial plan aren't entirely related to investing. Investors include a variety of financial

factors such as day to day expenses (64%), emergency funds (58%), health care insurance (50%), life

insurance (47%), taxes (36%), and long-term care (27%).

There are very little demographic differences between those who have a financial plan and those who don't currently

have a financial plan. The differences seem to be more in their attitudes and behaviors.

Those who have a financial plan are more likely to be more in control of their financial situation than those who

do not have a financial plan and are more likely to agree "I am in control of my investments" (64% vs. 48%,

respectively)

There doesn't seem to be a standard process for creating a financial plan.

The most common step taken toward planning for their financial future is starting a regular saving/investing

contribution (53%). About one third have set specific financial goals (39%) and sought advice from an advisor

(35%).

Those who have a financial plan are more confident in their financial future than those who do not have a financial

plan.

Those with a financial plan are three times as likely to be confident they will reach their retirement goals (85%

vs. 28%).

Those with a financial plan have slightly higher goals for retirement ($1M) than those without a plan ($893K) and

almost double the current savings toward retirement ($460K average current savings vs. $239K).


Detailed Findings Financial Goal Planning


Those with a financial plan are more likely to feel they

are financially prepared to meet their goals

6

Base: Rep. Respondents

Q16. If financially prepared is defined as you reaching your goals, how financially prepared do you feel?

Even without a financial plan, almost

two thirds feel they are financially

prepared.

However, those who currently have a plan are

significantly more likely to feel they are financial

prepared to reach their goals (84%) than those who

do not have a financial plan (62%).

Level of Financial Preparedness (By Those With/Without a Plan)

4%

12%

12%

26%

53%

51%

31%

11%

Have a Plan

Do Not Have a Plan

6 9/9/2016

Very Unprepared Very Prepared

84%

n=563

n=441

/ Statistically higher / lower than

Have Plan at the 90% confidence level.

62%


The most common step is starting a regular savings

contribution

7 9/9/2016

Base: Rep. Respondents (n=1004)

Q10. Which of the following steps, if any, have you taken to plan for your financial future?

Multiple responses accepted.

Only 20% have written goals with

(10%) or without (10%) an advisor's

help.

The most common step taken toward planning their

financial future is starting a regular saving/

investing contribution (53%).

About one third have set specific financial goals

(39%) or sought advice from an advisor (35%).

About one fourth have set specific dollar goals

(26%), established a relationship with an advisor

(26%), sought advice from friends or family (25%),

or used online tools (25%).

There are very few substantial differences by

subgroups.

53%

39%

35%

26%

26%

26%

25%

25%

17%

16%

13%

10%

10%

1%

5%

I have started a regular saving/investing contribution

I have set specific financial goals

I have sought advice from anadvisor/financial professional

I have set specific dollaramounts for each goal

I have selected investments foreach of my financial goals

I have established an on-goingrelationship with an advisor

I have sought advice fromtrusted family members/friends

I have used online financialplanning tools

I have developed a financial plan but it’s not written out

I have researched how to createa financial plan on the internet or…

I compare my financial progress to others to gauge if I’m on track

I have developed a written financialplan on my own to address my goals

I have developed a written financialplan with an advisor to address my goals

Some other step

I really haven’t taken any steps

Steps Taken for Financial Future (Rep. Respondents)


A specific age or milestone is one of the most

common triggers for creating a financial plan

8 9/9/2016

Base: Rep. Respondents Who Have a Plan (n=563)

Q21. Which of the following prompted you to create a financial plan?


34%

19%

18%

14%

12%

11%

10%

10%

10%

9%

5%

5%

5%

8%

6%

I reached a specific age or milestone

Recommended by a friend or family member

I saw a close friend/family memberdeal with a financial hardship

I saw a close friend/family memberhave personal financial success

I had an unexpected financial emergency

I lost or changed jobs

I had access to an online planning tool

I recently got married

I received an offer for a free planningsession with a financial advisor

Recently had a child

I received an offer for a paid planningsession with a financial advisor

I received a large cash windfall

I recently got divorced

Other

None of the above

This is fairly consistent with unaided

reasons as these investors may hit a

milestone and start planning for

retirement.

A specific age or milestone is one of the most

common triggers for creating a financial plan

(34%). In addition, many saw a family member go

through a hardship (18%) or a financial success

(14%).

There are very few substantial differences by

subgroups.

Why Initially Made A Financial Plan (Aided) (Rep. Respondents Who Have A Plan)


About one third have some type of financial plan

9 9/9/2016




About 34% state they have some type

of financial plan.

Most of those with a plan (15%) have some type of

written plan, whether they did it on their own (8%),

with an advisor (8%), or a combination (1%).

About 15% state they have a plan but do not have

anything formally written.

Types of Financial Plan (Rep. Respondents)

Have plan but not written,

15%

Have written plan (on own),

8%

Have written plan with

advisor, 8%

Written on own & with advisor,

1%

Written and Unwritten plan,

2%

No Plan, 66%


Most review their plan at least once per year

10 9/9/2016

Base: Rep. Respondents Who Have A Plan (n=563)

Q15. How often do you typically review this financial plan?

27%

23%

21%

17%

6%

4%

1%

Once a month or more frequently

Once a quarter

Several times a year(less than once a quarter)

Once a year

Less often than once a year

Only when I have a major life change

I don't know

Only one fourth review their plan once

a month or more.

One half of those with a financial plan review the

plan at least once per quarter (50%).

Almost nine in ten (88%) review it at least once per

year.

There are few substantial differences by subgroup.

Frequency of Reviewing Financial Plan (Rep. Respondents Who Have A Plan)

50%

88%


Items included in a financial plan vary by life stage and

asset level

11 9/9/2016

Base: Respondents Who Have A Plan

Q14. Which of the following are included in your current financial plan?


*Caution: Small base size.

Items included in plan are most likely

items relevant to life stage and asset

level.

TD Ameritrade investors have higher asset levels

and are less likely to include shorter term factors

such as mortgage (27%), and current debt (24%).

As would be expected, Millennials are not as far

into their lives and investing and therefore are

less likely to be including items such as health

care insurance (39%), taxes (24%), a plan for

withdrawing in retirement (18%), and asset

allocation of investments (13%).


Rep Sample at the 90% confidence level.

Items Included in

Financial Plan

Rep.

Sample

$25,000+

Assets

TD

Ameritrade Millennial

n=563 n=499 n=62* n=164

Day to day living expenses 64% 63% 68% 54%

Emergency fund savings 58% 56% 48% 53%

Saving/investment plans for specific

goal/purpose 52% 49% 42% 53%

Health care insurance 50% 51% 60% 39%

Mortgage / Rent 49% 44% 27% 51%

Life insurance 47% 47% 34% 41%

Current debt 40% 36% 24% 41%

A plan for contributing to investments 38% 38% 37% 33%

Taxes 36% 38% 52% 24%

A plan for withdrawing from investments

(in retirement) 35% 39% 55% 18%

Long-term care 27% 28% 23% 25%

Asset allocation of investments 25% 29% 45% 13%

Charitable giving 23% 24% 26% 25%

Estate plans 20% 22% 24% 15%

Other 1% 1% 0% 1%

None of the above 2% 2% 0% 1%

Items Included in Financial Plan (By Type of Investor Who Have A Plan)


As expected, those with higher asset levels feel they

are in a better financial position

12 9/9/2016

Base: Total Respondents

Q1. The following statements are about your CURRENT financial position. Please indicate how much you agree or disagree with each statement.

Top-2 Box Score: Rating 4 or 5 on a 5-point scale where '1' means Strongly Disagree and '5' means Strongly Agree.

TD Ameritrade investors

seem to be further along

on financial responsibility.

TD Ameritrade investors are more

likely to state they pay off their credit

cards each month, have more

savings than debt, consider

themselves a saver, save regularly,

and have control of their

investments.



Current Financial Position (Top-2 Box Score – By Type of Investor)

Financial Statements Rep.

Sample

$25,000+

Assets

TD


n=1004 n=862 n=109 n=277

Planning

I usually pay off the full amount of my credit

cards each month 63% 69% 91% 61%

I consider myself extremely financially

responsible 62% 66% 88% 56%

I have taken the steps needed to create a strong

financial future 56% 62% 84% 53%

When it comes to my finances I am a disciplined

planner 53% 56% 71% 53%

I would like to be better at managing my

finances, but don’t know where to start 32% 28% 15% 41%

I don’t plan my financial life 16% 15% 10% 21%

Saving

I have more in my savings and investments than

I do in debt (other than mortgage) 63% 71% 88% 49%

I consider myself a saver 61% 65% 80% 62%

I have a habit of saving money regularly 59% 62% 72% 59%

I don’t really have specific financial goals; I just

save as much as possible 37% 35% 37% 40%

Unexpected expenses make it hard for me to

stick to a budget 33% 28% 17% 43%

I don’t earn enough income to save regularly 25% 21% 15% 34%

Investing

I am in control of my investments 57% 61% 83% 55%

I need someone to help me make the right

investment decisions 42% 39% 21% 44%

I keep an eye on my investments but not as

closely as I should 40% 38% 33% 40%


Those with higher assets ($25K+) are more likely to be

on track or ahead of their goals

13 9/9/2016

Base: $25,000 Asset Respondents With Each Type of Savings

Q7. How do you feel about the progress you have made so far in saving for each of the following goals?

Note: Savings goals with fewer than 50 respondents answering omitted from report. / Statistically higher / lower than


4% 3% 1% 0% 2% 1% 2% 8%

24% 23% 20%

36% 22%

16%

29% 11%

45% 48% 54%

47%

56%

53%

52%

55%

26% 26% 24% 17% 21%

30%

16% 26%

Retirement Long-TermSavings

EmergencySavings

Paying DownDebt

Big Purchase Income ForCurrent Needs

CollegeSavings

InheritanceFor Heirs

Progress Toward Saving for Specific Goals ($25,000+ Asset Respondents)

n=653 n=471 n=426 n=246 n=237 n=229 n=176 n=124

I'm Behind Just Where Should Be I'm Ahead No Idea

About one half of these investors feel they are "just where they should be" on saving toward

their goals.

Across all goals, almost one half state they are just where they should be in the progress toward savings. There are slightly

fewer that state they are behind their goals.


Saving plans vary by goal type

14 9/9/2016

Base: Rep. Respondents With Each Type of Savings (Base varies by goal)

Q6. Which of the following describes the primary approach you have for saving for each of these goals?


How they save depends on the person and the specific goal.

Investors are more likely to have an auto deposit set up for their retirement (57%) and college savings (41%) goals.

Investors are most likely to set aside money for emergencies (40%), inheritance (39%), and starting a business (46%) when

they have the funds available.

5% 3% 4% 4% 5% 4% 4%

17% 11%

17%

33% 40%

32% 33% 28% 27%

39% 46% 20%

31%

31% 39% 35%

34% 29%

25% 21% 57%

32% 25% 25% 26%

34% 41%

18% 21%


EmergencySavings

Paying DownDebt


CollegeSavings


StartingBusiness

Primary Approach to Saving for Specific Goals (Rep. Respondents)

n=730 n=526 n=503 n=325 n=286 n=252 n=192 n=130 n=61*

Not Regular

Just When $ Available

Regular

Not Auto Deposit

Regular

Auto Deposit Other Way


Investors are more likely to have general savings

amounts in mind for their goals

15 9/9/2016

Base: Rep. Respondents With Each Type of Savings (Base varies by goal)

Q5. Which of the following best describes how you define the success of each goal?


Overall, more investors have a general idea of how much they want to save each month toward a goal.

Investors are most likely to have a specific amount in mind when they are paying down debt (38%), making a big purchase

(29%), or starting a business (26%).

They are most likely to have a goal of saving all that is possible for retirement (44%) and long-term savings (52%).

5% 3% 1% 1% 5% 1% 3% 9% 10%

44% 52%

38%

23% 26% 33% 31%

38%

25%

33% 31%

38%

37%

40% 43% 46%

42%

39%

18% 15% 23%

38% 29%

23% 20% 12%

26%


EmergencySavings

Paying DownDebt


CollegeSavings


StartingBusiness

How Success of Specific Goals Defined (Rep. Respondents)

Save All Possible General $ Amount Specific $ Amount Don't Know

n=730 n=526 n=503 n=325 n=286 n=252 n=192 n=130 n=61*


Most have made good progress on their goals

16 9/9/2016

Base: Rep. Respondents With Each Type of Savings



About one half of investors feel they are "just where they should be" on saving toward their

goals.

Across all goals, almost one half state they just where they should be in the progress toward savings.

5% 4% 1% 0% 2% 1% 2% 7% 11%

30% 29% 26%

37% 26%

20%

32% 17%

36%

44% 45% 51%

45% 52%

52%

49%

54%

34%

21% 23% 21% 18% 20% 27%

17% 22% 18%


EmergencySavings

Paying DownDebt


CollegeSavings


StartingBusiness

Progress Toward Saving for Specific Goals (Rep. Respondents)


n=730 n=526 n=503 n=325 n=286 n=252 n=192 n=130 n=61*


8% 2% 2% 2% 3% 1% 4%

49% 53%

36% 27%

31% 35% 31%

26% 28%

37%

40% 34%

47% 45%

16% 17% 26%

31% 31%

16% 20%


EmergencySavings

Paying DownDebt


CollegeSavings

Millennials are not as likely to have specific goals

17 9/9/2016

Base: TD Ameritrade & Millennial Respondents With Each Type of Savings (Base varies by goal)


Note: Savings goals with fewer than 50 respondents answering omitted from report. / *Caution: Small base size. / Statistically higher / lower than


In general, Millennials have a general idea of how much they want to save each month toward a goal.

Millennials are more likely to have a specific amount in mind when they are paying down debt (31%) or making a big purchase

(31%).

They are most likely to have a goal of saving all that is possible for retirement (49%) and long-term savings (53%).

2% 2%

45%

63%

35%

27%

17% 9%


How Success of Specific Goals Defined (TD Ameritrade Respondents)

n=93* n=64*

Save All Possible General $ Amount Specific $ Amount Don't Know

How Success of Specific Goals Defined (Millennial Respondents)

n=148 n=154 n=131 n=110 n=105 n=68* n=71*


5% 4% 2% 1% 4% 1% 1%

33% 30%

26% 37% 30%

18%

34%

48%

43% 49%

42% 51%

57%

44%

14% 23% 24% 20%

15% 24% 21%


EmergencySavings

Paying DownDebt


CollegeSavings

Most Millennials are on track to reach their goals

18 9/9/2016

Base: TD Ameritrade & Millennial Respondents With Each Type of Savings




2% 2%

15% 11%

44% 56%

39% 31%


Progress Toward Saving (TD Ameritrade Respondents)

n=93* n=64*

Progress Toward Saving for Specific Goals (Millennial Respondents)

n=148 n=154 n=131 n=110 n=105 n=68* n=71*


About one half of Millennials feel they are "just where they should be" on saving toward their

goals.

Across all goals, almost one half of Millennials state they are just where they should be in the progress toward savings.


Those with a financial plan are more likely to be

"ahead" in their progress toward achieving their goals

19 9/9/2016

Base: Rep. Respondents With/Without a Plan (base sizes vary by goal)


Note: Savings goals with fewer than 50 respondents answering omitted from report. / *Caution: Small base size.

While almost one half of those without a financial plan say they are right where they should be,

they are more likely to state they are behind in their progress toward their goals.



Progress Toward

Saving for Specific

Goals

HAVE A PLAN DO NOT HAVE A PLAN

I'm

Ahead

Where

Should Be

I'm

Behind No Idea

I'm

Ahead

Where

Should Be

I'm

Behind No Idea

Retirement 25% 48% 25% 2% 16% 38% 38% 8%

Long-Term Savings 27% 48% 23% 2% 16% 41% 37% 5%

Emergency Savings 26% 52% 22% 1% 13% 51% 34% 2%

Paying Down Debt 22% 47% 32% 0% 11% 43% 45% 1%

Big Purchase 19% 53% 26% 1% 21%* 50%* 24%* 5%*

Income For Current Needs 29% 54% 17% 0% 22%* 49%* 25%* 3%*

College Savings 16% 51% 33% 1% 20%* 46%* 30%* 4%*


There are very little demographic differences between

those who have a financial plan and those who don't

20 9/9/2016

Base: Rep. Respondents (Have a Plan n=563; Do Not Have a Plan n=441)

Demographic & Investing questions

19%

14%

21%

18%

13%

9%

6%

24%

18%

21% 21%

10%

4% 2%

$5,000 to$24,999

$25,000 to$49,999

$50,000 to$99,999

$100,000 to$249,999

$250,000 to$499,999

$500,000 to$999,999

$1,000,000 ormore

3%

16%

20% 21%

15%

11% 12%

4%

19%

22% 22%

12%

9% 10%

Less than$25,000

$25,000 tounder $50,000

$50,000 tounder $75,000

$75,000 tounder

$100,000

$100,000 tounder

$125,000

$125,000 tounder

$150,000

$150,000 ormore

16%

11%

18%

15% 17%

15%

3% 1%

4%

18%

13%

21%

16% 17%

6%

1% 0%

6%

Under$50,000

$50,000 to$99,999

$100,000to

$249,999

$250,000to

$499,999

$500,000to

$999,999

$1,000,000or

$2,999,999

$3,000,000or

$4,999,999

$5,000,000or more

Prefer notto answer

29%

26%

23%

11% 12%

25%

28%

24%

12% 10%

25-34 35-44 45-54 55-64 65+

0%

19% 18%

40%

23%

1%

21% 17%

38%

24%

Primary school orless

High school or GED Associate's degree /2-year college

Bachelor's degree /4-year college

Graduate degree

65%

8% 2% 5%

14% 7%

69%

6% 1% 2%

13% 9%

Employed Small businessowner, or self-

employed

Full-time investor ortrader

Partially/semi-retired Fully retired Full-time student,homemaker, or

unemployed



Net Worth

Age

Education

Employment

Investible Assets

Household Income

Have a Plan

Do Not Have a Plan


The economy and the market are top barriers to

achieving goals

21 9/9/2016


Q17. What are your TOP 3 barriers to the success of you goals

3 responses accepted.

43%

31%

30%

28%

25%

20%

18%

15%

14%

14%

12%

10%

9%

7%

7%

3%

5%

The economy

Not saving enough because I don’t have the money

Having an unplannedfinancial emergency

Having unplanned medicalexpenses due to an illness

Volatile markets

Losing my job

Social Security (uncertaintyof it being enough)

Bad investment choices

Not saving enough because I don’t have the discipline

Not having a financial plan

Unexpected expensesfrom a natural disaster

Supporting a parent or other relative

Identity theft/theft of personalfinancial information

Supporting an adult-aged child(ren)

Death/loss of primary breadwinner

Other

I don’t have any barriers

There are many barriers to achieving

goals.

The economy (43%) and volatile markets (25%) top

the list of barriers to reaching goals.

In addition, about one third state that not having

enough money to save (31%) and unplanned

financial emergencies (30%) are barriers.

Supporting relatives (10%), identity theft (9%),

supporting adult-aged children (7%), and the death

of a breadwinner (7%) are least likely to be barriers

to achieving goals.

Top Barriers to Achieving Goals (Rep. Respondents)


The economy is the top barrier across all subgroups

22 9/9/2016




Barriers seem to be related

to life stage and asset

levels.

The economy is the number one

barrier to achieving goals across all

asset based subgroups.

As expected, those with higher assets

are more likely to state the volatility of

the market is a barrier to their goals.

Millennials are more likely to state

they don't have enough money or

discipline to invest at this time.



Top Barriers to Achieving Goals (By Type of Investor)

Top Barriers to

Achieving Goals

Rep.

Sample

$25,000+

Assets

TD


n=1004 n=862 n=109 n=277

The economy 43% 43% 44% 42%

Not saving enough because I don’t have the

money 31% 25% 14% 34%

Having an unplanned financial emergency 30% 29% 23% 32%

Having unplanned medical expenses due to an

illness 28% 30% 36% 21%

Volatile markets 25% 30% 44% 17%

Losing my job 20% 19% 15% 21%

Social Security (the uncertainty of it being enough) 18% 17% 11% 13%

Bad investment choices 15% 16% 17% 18%


discipline 14% 13% 6% 21%

Not having a financial plan 14% 12% 6% 18%

Unexpected expenses from a natural disaster 12% 14% 23% 15%

Supporting a parent or other relative 10% 9% 6% 14%

Identity theft/theft of personal financial information 9% 10% 11% 8%

Supporting an adult-aged child(ren) 7% 7% 10% 5%

Death/loss of primary breadwinner 7% 6% 4% 7%

Other 3% 4% 6% 4%

I don't have any barriers 5% 6% 8% 3%


Detailed Findings

Repeat Study Objectives – same size/placement as title page

Not Having a Financial Plan


Receiving a large sum of money would be the

most likely catalyst to create a financial plan

24 9/9/2016

Base: Rep. Respondents Who Do Not Have a Plan (n=441)

Q22. Which of the following MIGHT prompt you to create a written financial plan


There are relatively few events that

result in these non-users creating a

financial plan.

Receiving a large amount of cash (40%) or

receiving a free planning session (28%) are the

triggers that would most likely prompt an investor to

create a financial plan.

In addition, a few would try if they had access to an

online planning tool (15%).

40%

28%

15%

12%

10%

10%

9%

9%

8%

7%

5%

5%

4%

1%

19%

If I receive a large cash windfall

If I receive an offer for a free planningsession with a financial advisor

If I had access to an online planning tool

If recommended by a friend or family member

If I have an unexpected financial emergency

I reach a specific age or milestone

If I get married

If I lose or change jobs

If I receive an offer for a paid planningsession with a financial advisor

If a close friend/family member hadpersonal financial success

If I have a child

If I get divorced

If a close friend/family member had todeal with a financial hardship

Other

None of the above

Triggers That Could Prompt a Written Plan (By Type of Investor Without a Plan)


Those without a plan are not as likely to take the steps

needed to plan their financial future

25 9/9/2016




Those without a financial plan are less

likely to have done any of these

financial steps toward planning for the

future.

Steps Taken for Financial Future (By Those With/Without a Plan)

Steps Toward

Financial Future

Have A

Plan

Do Not

Have A Plan

n=563 n=441

I have started a regular saving/investing

contribution 55% 50%

I have set specific financial goals 51% 23%

I have sought advice from an advisor/

financial professional 43% 25%

I have set specific dollar amounts for each goal 35% 15%

I have selected investments for each of my

financial goals 35% 15%

I have established an on-going relationship with

an advisor 32% 19%

I have sought advice from trusted family

members/friends 28% 22%

I have used online financial planning tools 33% 15%

I have developed a financial plan but it’s not

written out 31% 0%

I have researched how to create a financial

plan on the internet or through media sources 22% 7%

I compare my financial progress to others to

gauge if I’m on track 17% 8%

I have developed a written financial plan on my

own to address my goals 18% 0%

I have developed a written financial plan with

an advisor to address my goals 18% 0%

Some other step 0% 1%

I really haven’t taken any steps 1% 11%




Those without a plan either don't want a financial plan

or don't know how to start

26 9/9/2016


Q19. You may have already mentioned this, but please choose from the list below the reasons why you don’t have a written financial plan.


54%

29%

19%

9%

8%

65%

27%

22%

21%

19%

18%

12%

6%

4%

5%

Don't Want a Plan (NET)

I don’t feel like I need a written financial plan

I don’t have enough income to save so I don’t need to create a plan

I don’t think I’d be able to follow a plan

I don’t like thinking about money and finances

Haven't Done it Yet (NET)

I have been procrastinating

I don’t want to pay someone for a plan

I don’t know how to start the process

I need to find someone who can help me

It’s too complicated, I don’t know enough about investing

It’s too time consuming

I don’t have access to the tools or resources I need

Some other mention

None of the above

Aided reasons for not having a plan

are fairly consistent with the unaided

responses.

Those without a plan are most likely to state they

don't need a written financial plan (54%) or they

just haven't gotten around to it (65%).

Overall, top reasons are they don't think they need

a financial plan (29%), procrastination (27%), don't

want to pay for a plan (22%), don't know how to

start the process (21%), and they don't have

enough income (19%).

Reasons for Not Having a Written Plan (Aided) (Rep. Respondents Without A Plan)

Individual Responses

Category Nets


Those who don't have a financial plan don't feel it is

necessary

27 9/9/2016


Q18. You said earlier that you don’t have a written financial plan. Why don’t you have a written financial plan?

Coded responses to an open-ended question; Responses 1% or less omitted from report.

42%

13%

10%

9%

6%

2%

2%

39%

11%

7%

7%

6%

2%

2%

2%

8%

12%

No Reason to Do A Plan (Net)

I don’t feel like I need a written financial plan

I have plan, it’s just not written/it’s in my head

I don’t have enough income; don’t need a plan

Don’t want one

Already reached my goals/already retired

I rely on an advisor to keep track of my plan

Just Have Not Done it Yet (Net)

I don’t know how to start the process

Haven’t thought about it

It’s too time consuming

I have been procrastinating

Income fluctuates / income uncertainty

Laziness/ lack of discipline/ no good reason

I need to find someone who can help me

Some other mention

No answer; Not sure

There are two primary reasons for

not having a plan. Either the investor

doesn't feel like there is a need

(42%) or they haven't done it yet

(39%).

Among those who don't feel like they need a plan,

it's because they don't think it has to be written

(13%), they don't have the income (9%), or they

just don't want one (6%).

Those who haven't gotten it done yet just don't

know how to start the process (11%), haven't

really thought about it (7%), think it's too time

consuming (7%), or have been procrastinating

(6%).

Reasons for Not Having a Written Plan (Unaided) (Rep. Respondents Without A Plan)


Category Nets


Those without a plan are more likely to feel they don't

have enough money to save

28 9/9/2016




Those without a plan are more likely

to state they don't have enough

money to save (40%) and they don't

have the discipline to save (18%) than

those with a financial plan.

Those without a plan are more likely to state

unplanned emergencies (27%) and unplanned

medical expenses (24%) are barriers to achieving

their goals.

Top Barriers to Achieving Goals (By Those With/Without a Plan)

Top Barriers to

Achieving Goals

Have A

Plan

Do Not

Have A Plan

n=563 n=441

The economy 44% 41%


money 23% 40%

Having an unplanned financial emergency 33% 27%

Having unplanned medical expenses due to an

illness 30% 24%

Volatile markets 27% 24%

Losing my job 21% 18%

Social Security (the uncertainty of it being

enough) 18% 19%

Bad investment choices 18% 11%


discipline 11% 18%

Not having a financial plan 8% 22%

Unexpected expenses from a natural disaster 15% 10%

Supporting a parent or other relative 10% 10%

Identity theft/theft of personal financial

information 11% 6%

Supporting an adult-aged child(ren) 8% 6%

Death/loss of primary breadwinner 9% 4%

Other 3% 4%

I don't have any barriers 4% 6%




Not surprisingly, those without a plan are more likely

to just save as much as a possible

29 9/9/2016

Base: Rep. Respondents With/Without a Plan (base sizes vary by goal)




Those who do not have a plan are more likely to just save as much as possible for specific

goals.

How Success of

Specific Goals

Defined

HAVE A PLAN DO NOT HAVE A PLAN

Specific

Amt.

General

Amt.

Save All

Possible

Don't

Know

Specific

Amt.

General

Amt.

Save All

Possible

Don't

Know

Retirement 24% 36% 37% 3% 10% 29% 54% 8%



Paying Down Debt 44% 35% 21% 1% 30% 40% 28% 2%

Big Purchase 33% 40% 24% 4% 23%* 40%* 30%* 7%*

Income For Current Needs 28% 44% 27% 1% 14%* 41%* 45%* 0%*

College Savings 22% 52% 24% 2% 16%* 34%* 44%* 6%*


The factors that lead those to create a plan aren't necessarily

the reasons why those who don't have plan would create one

30 9/9/2016


Q21. Which of the following prompted you to create a financial plan? / Multiple responses accepted.

Q22. Which of the following MIGHT prompt you to create a written financial plan? / Multiple responses accepted.

Those without a plan have fewer

triggers overall.

For instance, those who currently have a plan

stated that a specific age or milestone is one of the

most common triggers for creating a financial plan

(34%). In addition, many saw a family member go

through a hardship (18%) or a financial success

(14%).

However, those who don't have a plan think they

would be most likely to create a plan if they

received a large amount of cash (40%) or received

a free planning session (28%).

Life Events Prompting Written Plan (By Those With/Without a Plan)

Life Events Why Created

Plan?

What Would

Make You

Create Plan? Difference

n=563 n=441

I received a large cash windfall 5% 40% 35%

I received an offer for a free planning session

with a financial advisor 10% 28% 18%

I had access to an online planning tool 10% 15% 5%

I received an offer for a paid planning session

with a financial advisor 5% 8% 3%

I recently got divorced 5% 5% 0%

I recently got married 10% 9% -1%

I had an unexpected financial emergency 12% 10% -2%

I lost or changed jobs 11% 9% -2%

Recently had a child 9% 5% -4%

Recommended by a friend or family member 19% 12% -7%

I saw a close friend/family member have

personal financial success 14% 7% -7%

I saw a close friend/family member deal with a

financial hardship 18% 4% -14%

I reached a specific age or milestone 34% 10% -24%

Other 8% 1% -7%

None of the above 6% 19% 13%




Detailed Findings


Long-Term Savings and

Retirement


Retirement and long-term savings are the top goals

32 9/9/2016


Q2. For which of the following types of financial goals do you currently have savings or investments?


Base: Rep. Respondents With Emergency Savings (n=503)

Q3. Thinking about the total amount of money you have saved or invested for EMERGENCY EXPENSES across all accounts, about how many months of living expenses would this amount cover?

Top goals seem to be more long-term

in nature.

Most common goal among this rep. sample of

investors is retirement (73%). In addition, 52%

have a goal of long-term savings.

About one third are saving to pay down debt.

The remaining goals are big purchases (28%),

current needs (25%), and college savings (19%).

On average (median), those with emergency

savings have enough to cover 6 months of

expenses.

73%

52%

50%

32%

28%

25%

19%

13%

6%

1%

2%

Retirement

Long-Term Savings

Emergency Savings

Paying Down Debt

Big Purchase

Income For Current Needs

College Savings

Inheritance For Heirs

Starting Business

Other Savings

Don’t have goals or specific purpose for investments

Current Types of Savings Goals (Rep. Respondents)

25%

30%

22%

11%

13%

3 months or less

4 to 6 months

7 to 12 months

13 to 24 months

Over 24 months

Months of Emergency Savings

(Those with emergency savings)


Those with a financial plan have higher goals for retirement

33 9/9/2016


Q34. CURRENT: How much money do you currently have SAVED for retirement? (Please record the amount in dollars)

Q33. NEEDED: How much money do you think you will need to have saved in order to retire? (Please record the amount in dollars)

Those with a financial plan have almost double the savings but have a higher dollar amount as

their goal for retirement.

Although these two groups currently have about the same amount left to save before they retire, those who currently have a

financial plan have a higher retirement goal in mind than those without a financial plan.

$1,064,410

$893,663

$460,968

$239,711

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

Have a Plan Don’t Have a Plan

Goal

Current

Savings

Current Retirement Savings Vs. Savings Needed For Retirement (By Those With/Without a Plan)

n=563 n=441

$ 603,442

$ 653,952


63%

62%

56%

53%

32%

16%

63%

61%

59%

37%

33%

25%

57%

42%

40%

I usually pay off the full amountof my credit cards each month

I consider myself extremelyfinancially responsible

I have taken the steps needed tocreate a strong financial future

When it comes to my financesI am a disciplined planner

Like to be better at managing finances,but not know where to start

I don’t plan my financial life

I have more in my savings andinvestments than I do in debt

I consider myself a saver

I have a habit ofsaving money regularly

No really specific financial goals;just save as much as possible

Unexpected expenses make ithard for me to stick to a budget

I don’t earn enough income to save regularly

I am in control of my investments

I need someone to help me makethe right investment decisions

I keep an eye on my investmentsbut not as closely as I should

Almost two-thirds feel they are financially responsible

with their money

34 9/9/2016




Investors feel they are responsible in

the planning and savings areas of

their lives.

These respondents pay off their credit cards each

month (63%), have more savings than debt (63%),

consider themselves a saver (61%), save regularly

(59%), and have control of their investments (57%).

Few would say they would like to better manage

their finances but don't know where to start (32%)

and even fewer agree they don't plan their financial

life (16%) or earn enough to save regularly (25%).

Current Financial Position (Top-2 Box Score – By Rep. Respondents)

Sa

vin

gs

P

lan

nin

g

Inve

sti

ng


3% 3% 2% 1% 1% 1% 1%

19%

36% 45%

35% 39% 37% 27%

20%

32% 27%

36% 33% 37%

35%

58%

29% 26% 28% 27% 25% 37%


EmergencySavings

Paying DownDebt


CollegeSavings

Millennials regularly save for retirement and college

35 9/9/2016

Base: TD Ameritrade & Millennial Respondents With Each Type of Savings




11% 8%

18%

41%

24%

28%

47%

23%


Primary Approach To Saving (TD Ameritrade Respondents)

n=93* n=64*

Primary Approach to Saving for Specific Goals (Millennial Respondents)

n=148 n=154 n=131 n=110 n=105 n=68* n=71*

How Millennials save depends on the person and the specific goal.

Millennials are more likely to have an auto deposit set up for their retirement (58%) and college savings (37%) goals.

Millennials are most likely to set aside money for emergencies (45%), a big purchase (39%), and long-term savings (36%)

when they have the funds available.

Not Regular

Just When $ Available

Regular

Not Auto Deposit

Regular

Auto Deposit Other Way


Those investors with a financial plan seem to be further

along on being financially responsible with saving and investing

36 9/9/2016




Those investors with a financial plan

are more likely to agree with most

saving and investing statements.

Those with a financial plan are more likely to state

they pay off their credit cards each month (67%),

have more savings than debt (69%), consider

themselves a saver (67%), save regularly (65%),

and have control of their investments (64%).

Those without a financial plan are more likely to

state that they don't have specific financial goals

(41%) and that unexpected expenses make it hard

to stick to a budget (36%).

Current Financial Position (Top-2 Box Score – By Those With/Without a Plan)

Financial Statements Have A

Plan

Do Not

Have A Plan

n=563 n=441

Planning


cards each month 67% 58%


responsible 68% 53%

I have taken the steps needed to create a

strong financial future 67% 43%

When it comes to my finances I am a

disciplined planner 60% 44%


finances, but don’t know where to start 30% 35%

I don’t plan my financial life 15% 17%

Saving

I have more in my savings and investments

than I do in debt (other than mortgage) 69% 56%

I consider myself a saver 67% 53%

I have a habit of saving money regularly 65% 51%

I don’t really have specific financial goals; I

just save as much as possible 34% 41%


stick to a budget 31% 36%

I don’t earn enough income to save regularly 22% 28%

Investing

I am in control of my investments 64% 48%


investment decisions 41% 43%


closely as I should 38% 41%




About one in five hope to retire before 60

37 9/9/2016

Base: Total Respondents (n=1004)

Q32. At what age do you plan to fully retire? (If you have already fully retired, at what age did you retire?) (Please record the age in years)

Most hope to retire in their

early 60s.

On average, investors expect to retire

around 60 to 63 years of age.

About 20% hope to retire before they

reach 60 and about one fourth expect

to work after 65.

Age When (Plan to) Fully Retire (By Type of Investor)

Age When (Plan to)

Fully Retire

Rep.

Sample

$25,000+

Assets

TD


n=1004 n=862 n=109 n=277

Younger than 60 20% 21% 23% 22%

60 11% 11% 8% 13%

61 to 64 10% 12% 15% 4%

65 21% 19% 20% 24%

66 to 69 10% 11% 16% 6%

70 10% 10% 7% 13%

Older than 70 4% 4% 5% 3%

Don't know 14% 12% 6% 15%

Mean Age 62 62 63 60




Two thirds would like to fully retire someday

38 9/9/2016


Q31. Which of the following statements best represent your plans for full retirement? (By full retirement we mean when you will no longer work for income.)

15%

60%

11%

9%

1%

4%

I am currently fully retired

I plan on fully retiring (at some age)

I don't plan on retiring; I don't have afinancial barrier, I just enjoy working

I don't plan on retiring; I would like tobut I have a financial barrier that will

prevent me from doing so

Some other mentions

I don't know

Almost two thirds would like to retire

someday.

More than one half (60%) of investors expect to

fully retire someday but about one in ten (9%)

would like to retire but financially don’t see it as

a possibility.

An additional 11% stated they don't see

themselves retiring because they enjoy working.

Plans for Retirement (Rep. Respondents)


Millennials less likely to focus on retirement than other

age groups; more likely to focus on paying down debt

39 9/9/2016


Q2. For which of the following types of financial goals do you currently have savings or investments?


Goals seem to be related to

age and/or life stage.

As expected, the top goals across all

subgroups are still retirement and long-

term savings.

TD Ameritrade investors (slightly older in

age) are more likely to be saving toward

retirement and an inheritance for their

heirs.

Millennials are more likely to be paying

down debt and saving toward big

purchases.



Current Types of Savings Goals (By Type of Investor)

Types of Savings Goals Rep.

Sample

$25,000+

Assets

TD


n=1004 n=862 n=109 n=277

Retirement 73% 76% 85% 53%

Long-Term Savings 52% 55% 59% 56%

Emergency Savings 50% 49% 41% 47%

Paying Down Debt 32% 29% 14% 40%

Big Purchase 28% 27% 25% 38%

Income For Current Needs 25% 27% 35% 25%

College Savings 19% 20% 22% 26%

Inheritance For Heirs 13% 14% 19% 8%

Starting Business 6% 6% 4% 12%

Other Savings 1% 1% 0% 1%

Don’t have goals or specific purpose

for investments 2% 1% 0% 1%


Those without a plan are twice as likely to not know

when they will retire

40 9/9/2016


Q32. At what age do you plan to fully retire? (If you have already fully retired, at what age did you retire?) (Please record the age in years)

Those with a plan are more likely

to know at what age they will

retire.

Although the average age they expect to

retire is not different, those who do not have

a financial plan are twice as likely (20%) to

state they do not know when they expect to

retire.

Age When (Plan to) Fully Retire (By Those With/Without a Plan)



Age When (Plan to)

Fully Retire

Have A

Plan

Do Not

Have A Plan

n=563 n=441

Younger than 60 21% 18%

60 13% 9%

61 to 64 10% 11%

65 20% 21%

66 to 69 12% 7%

70 9% 11%

Older than 70 5% 3%

Don't know 10% 20%

Mean Age 62 62



Financial Advice


Unaided, most mention planning for retirement and the

future as the catalyst for a financial plan

42 9/9/2016


Q20. Thinking back to when you first developed your plan, why did you initially decide to make a financial plan?

Coded responses to an open-ended question; Responses 1% or less omitted from report.

Reasons for initially creating a plan

vary.

Unaided, the most common reason for creating

a financial plan is retirement (24%) and to

prepare for the future (11%).

There are very few significant differences by

subgroups.

24%

11%

7%

7%

6%

5%

5%

4%

3%

3%

3%

2%

2%

5%

7%

7%

To plan for retirement/early retirement

To prepare for the future

To control debt, keep finances in order

To save / to make the most of what I save

To take care of my family

For security / stability

It’s a good/responsible thing to do

I recently had a child

I had an unexpected financialemergency / emergency fund

I reached a specific age or milestone

To reach my goals

Recommended by a friend or family member

As part of a 401(k) or plan through work

Some other mention (stating whendeveloped plan)

Some other mention

No answer; Not sure

Why Initially Made A Financial Plan (Unaided) (Rep. Respondents Who Have A Plan)


Financial advisors and online tools are the most

common resources used to create a financial plan

43 9/9/2016


Q25. What tools and resources did you use to create your financial plan?


43%

36%

26%

26%

25%

25%

21%

20%

19%

3%

3%

1%

Financial advisor

Online tools

Friends and/or family members

Social Security future income projections

General financial news

A financial company or planning firm

Pension projections

Investment websites or newsletters

Financial seminars and/or courses

Some other tools/resources

None of the above

Don’t remember

Many who have a financial plan

created it with the help of a financial

advisor or planning firm.

Almost one half (43%) used a financial advisor to

create their financial plan an and additional one

fourth (25%) used a financial company or planning

firm.

An additional one third (36%) used online tools.

About one fourth talked to family or friends (26%),

used Social Security projections (26%), financial

news (25%), and pension projections (21%).

Tools & Resources Used to Create Plan (Rep. Respondents Who Have A Plan)


Advisors are rated highest in the importance when

creating a financial plan

44 9/9/2016

Base: Rep. Respondents Who Used Each Tools/Resources When Creating Financial Plan (base varies by tool/resource)

Q28. How important were each of the following tools and resources to the success of you creating a financial plan?

Top-2 Box Score: Rating 4 or 5 on a 5-point scale where '1' means Not At All Important and '5' means Extremely Important.

Most of the resources used are

deemed as important.

Those who used a financial advisor or company

to create a financial plan felt the advisor was

extremely important to their financial plan.

Importance of Tools & Resources When Creating Financial Plan (Top-2 Box Score – By Those Who Used the Resource)

87%

86%

83%

77%

76%

73%

68%

62%

61%

Financial advisor

A financial company or planningfirm

Pension projections

Online tools

Social Security futureincome projections


Financial seminars and/orcourses


Investment websites ornewsletters


Those who working with an advisor utilize slightly more

resources overall

45 9/9/2016


Q25. What tools and resources did you use to create your financial plan?


Other than use of an advisor, there is

little difference in the resources

utilized.

Those not working with a financial advisor are more

likely to use online tools (42%) and general

financial news (31%).

Those working with an advisor used, on average,

2.9 resources compared to those not working with

an advisor (average of 1.9 resources). Perhaps

that one extra resource is the advisor!

29%

27%

25%

21%

20%

19%

17%

1%

42%

24%

27%

22%

31%

18%

22%

4%

Online tools

Social Security future income projections


Pension projections


Financial seminars and/or courses

Investment websites or newsletters

Some other tools/resources

Tools & Resources Used to Create Plan (Used Advisor/ Planning Firm Vs. Did NOT use Advisor/ Planning Firm)

Average Number of Resources Used:

Investors are using advisor = 2.9

Investors NOT using advisor = 1.9

Did NOT use Advisor or Planning Firm

Those using Advisor or Planning Firm


Those Using Advisor at the 90% confidence level.


Millennials are least likely to value advisors as a

resource when creating a financial plan

46 9/9/2016

Base: Rep. Respondents Who Would Use Tools/Resources When Creating Financial Plan

Q29. How important would each of the following tools and resources be to you if you were to create a financial plan?


*Caution: Small base size. / **Caution: Extremely small base size.

Financial advisors are rated as

the most valuable across all

groups except Millennials.

Millennials are more likely than other

subgroups to rate general financial news

as an important resource and less likely to

rate advisors as important.



Importance of Tools & Resources IF Creating Financial Plan (Top-2 Box Score – By Type of Investor Who Do Not Have a Plan)

Tools & Resources Rep.

Sample

$25,000+

Assets

TD


n=371 n=300 n=37** n=102

Financial advisor 82% 83% ** 69%

Pension projections 78% 82% ** 80%

Online tools 76% 74% ** 72%

A financial company or planning firm 71% 70% ** 67%

Friends and/or family members 70% 68% ** 69%

Social Security future income projections 70% 70% ** 71%

Financial seminars and/or courses 68% 58% ** 60%

Investment websites or newsletters 61% 62% ** 64%

General financial news 53% 47% ** 65%


Resources used among those with a plan versus

tools needed for those without a plan are consistent

47 9/9/2016


Q25. What tools and resources did you use to create your financial plan? / Multiple responses accepted.

Q27. What tools and resources would you like to use to create a financial plan? / Multiple responses accepted.

The top resource for a financial plan is

a financial advisor or planning firm.

Then these investors would use more self directed

methods such as online tools, financial seminars,

investment websites, and Social Security

projections.

Tools & Resources To Use to Create Plan (By Those With/Without a Plan)



Tools & Resources What Did

You Use?

What Would

You Like To

Use? Difference

n=563 n=441

Financial advisor 43% 48% 5%

Online tools 36% 39% 3%

A financial company or planning firm 25% 23% -2%

Financial seminars and/or courses 19% 15% -4%

Investment websites or newsletters 20% 14% -6%

Social Security future income projections 26% 20% -6%

Friends and/or family members 26% 20% -6%

Pension projections 21% 13% -8%

General financial news 25% 13% -12%

Some other tools/resources 3% 1% -2%

None of the above 3% 6% 3%

Don’t remember/know 1% 10% 9%


Those without a financial plan rate a financial advisor

as one of the most important resources

48 9/9/2016

Base: Rep. Respondents Who Would Use Tools/Resources When Creating Financial Plan (n=538)

Q29. How important would each of the following tools and resources be to you if you were to create a financial plan?


The importance of resources for those

who currently do not have a plan are

consistent.

The most valued resource would be an advisor and

online tools.

Importance of Tools & Resources IF Creating Financial Plan (Top-2 Box Score – By Those Without Financial Plan)

82%

78%

76%

71%

70%

70%

68%

61%

53%

Financial advisor

Pension projections

Online tools

A financial company or planningfirm


Social Security futureincome projections

Financial seminars and/orcourses

Investment websites ornewsletters



Detailed Findings


Confidence


Those confident with their plan are more likely to have

a written plan

50 9/9/2016

Base: Rep. Respondents & Those Who Have A Plan



Those who are not confident with their

financial plan are more likely to just

have unwritten, less specific plans.

Those who are not confident in their plan are more

likely to have a plan that is NOT written (44%) than

those who have a plan and are confident in their

plan (24%).

They are less likely to have taken steps such as

setting specific goals (37%), setting specific dollar

amounts (22%), selecting investments (21%), and

using an advisor (24%).

Steps Taken for Financial Future (By Those Confident/Not Confident With Plan)

Steps Toward

Financial Future

Confident

With Plan

Not

Confident

With Plan

n=389 n=174

I have started a regular saving/investing

contribution 58% 51%

I have set specific financial goals 58% 37%

I have sought advice from an advisor/

financial professional 45% 39%

I have set specific dollar amounts for each goal 41% 22%

I have selected investments for each of my

financial goals 42% 21%

I have established an on-going relationship with

an advisor 35% 24%

I have sought advice from trusted family

members/friends 29% 28%

I have used online financial planning tools 36% 26%

I have developed a financial plan but it’s not

written out 24% 44%

I have researched how to create a financial

plan on the internet or through media sources 22% 21%

I compare my financial progress to others to

gauge if I’m on track 18% 14%

I have developed a written financial plan on my

own to address my goals 21% 12%

I have developed a written financial plan with

an advisor to address my goals 20% 11%

Some other step 0% 1%

I really haven’t taken any steps 0% 1%


Confident w. Plan at the 90% confidence level.


Those confident with their plan are more likely to have

items outside of investing included

51 9/9/2016

Base: Rep. Respondents Who Have A Plan

Q14. Which of the following are included in your current financial plan?


Those not confident with their financial plan

are less likely to be taking into

consideration items other than short term

expenses into account.

They are less likely to include:

Savings for specific goals (45%)

Healthcare insurance (44%)

A plan for contributing to investments (31%)

Taxes (28%)

A plan for withdrawing from investments (23%)

Long-term care (18%)

Asset allocation of investments (13%)

Charitable giving (17%)

Estate plans (7%)

Items Included in Financial Plan (By Those Confident/Not Confident With Plan)

Items Included in

Financial Plan

Confident

With Plan

Not

Confident

With Plan

n=389 n=174

Day to day living expenses 64% 66%

Emergency fund savings 59% 56%

Saving/investment plans for specific

goal/purpose 55% 45%

Health care insurance 53% 44%

Mortgage / Rent 47% 53%

Life insurance 48% 43%

Current debt 39% 45%

A plan for contributing to investments 41% 31%

Taxes 40% 28%

A plan for withdrawing from investments

(in retirement) 41% 23%

Long-term care 31% 18%

Asset allocation of investments 31% 13%

Charitable giving 26% 17%

Estate plans 26% 7%

Other 1% 1%

None of the above 1% 2%




Investors confident with their financial plan seem to be

further along on being financially responsible

52 9/9/2016




Overall, investors who are confident in

their plan are more likely to agree with

the saving and investing statements.

Those who are confident with their plan are more

likely to state they pay off their credit cards each

month (75%), have more savings than debt (77%),

consider themselves a saver (77%), save regularly

(74%), and have control of their investments (74%).

Current Financial Position (Top-2 Box Score – By Those Confident/Not Confident With Plan)



Financial Statements Confident

With Plan

Not

Confident

With Plan

n=389 n=174

Planning


cards each month 75% 52%


responsible 78% 46%

I have taken the steps needed to create a

strong financial future 80% 36%

When it comes to my finances I am a

disciplined planner 70% 37%


finances, but don’t know where to start 27% 38%

I don’t plan my financial life 16% 14%

Saving

I have more in my savings and investments

than I do in debt (other than mortgage) 77% 52%

I consider myself a saver 77% 44%

I have a habit of saving money regularly 74% 46%

I don’t really have specific financial goals; I

just save as much as possible 33% 34%


stick to a budget 28% 39%

I don’t earn enough income to save regularly 21% 25%

Investing

I am in control of my investments 74% 41%


investment decisions 42% 39%


closely as I should 37% 40%


Investors who have a financial plan in place are more

confident they will reach their goals.

53 9/9/2016

Base: Rep. Respondents With Each Type of Savings (base sizes vary by goal)

Q8. How confident are you that you will reach each of these goals?

Top-2 Box Score: Rating 4 or 5 on a 5-point scale where '1' means Not At All Confident and '5' means Extremely Confident.


And those confident in their

financial plan are:

Three times as likely to be confident they will

reach their retirement goals (85% vs. 28%).

Two and half times as confident they will

reach their long-term savings goals (85% vs.

34%).

Those not confident in their plan

are less likely than those without

any plan to believe they will reach

their goals.


alternate group at the 90% confidence level.

Types of

Savings Goals Have A

Plan

Do Not

Have A

Plan

Index Confident

With Plan

Not

Confident

With Plan

Index

Retirement 67% 47% 143% 85% 28% 304%

Long-Term Savings 70% 47% 149% 85% 34%* 250%

Emergency Savings 72% 50% 144% 83% 47%* 177%

Paying Down Debt 72% 50% 144% 86% 48%* 179%

Big Purchase 73% 61%* 120% 81% 55%* 147%

Confidence in Reaching Specific Goals (Top-2 Box Score – By Rep. Respondents)


13%

8%

9%

13%

8%

8%

13%

8%

18%

28%

31%

27%

24%

23%

18%

28%

25%

26%

31%

34%

28%

35%

34%

34%

32%

29%

30%

28%

27%

36%

28%

35%

41%

28%

38%

26%

Retirement

Long-Term Savings

Emergency Savings

Paying Down Debt

Big Purchase

Income For Current Needs

College Savings

Inheritance For Heirs

Starting Business

Whether they have a plan or not, most investors are

fairly confident they will reach their goals

54 9/9/2016

Base: Rep. Respondents With Each Type of Savings

Q8. How confident are you that you will reach each of these goals?


Overall, investors are fairly confident

they will reach their goals.

Top-2 box scores across the board for all goals

range from starting a business (56%) to income for

current needs (75%).

As expected, investors are extremely confident on

shorter term goals such as income for current

needs (41%), emergency savings (36%), and big

purchases (35%).

Confidence in Reaching Specific Goals (Rep. Respondents)

Not At All Confident (B2B) Extremely Confident

n=730

n=526

n=503

n=325

n=286

n=252

n=192

n=130

n=61*

"4" "3" "1" & "2" Not Confident "5" Extremely Confident


Those with a plan are more confident they will reach

their goals

55 9/9/2016


Q9. The following statements are about your FUTURE financial position. Please indicate how much you agree or disagree with each statement.


Those with a financial plan are more

likely to agree they are on track to

reach their goals.

About three fourths of investors with a plan believe

their financial goals are realistic (74%) and they

have taken the necessary steps to meet their goals

(63%).

Both those with and without a financial plan are

likely to state they are worried about healthcare

(55% and 58% respectively).

Future Financial Position (Top-2 Box Score – By Those With/Without a Plan)

Financial Statements Have A

Plan

Do Not

Have A Plan

n=563 n=441

I feel my financial goals are realistic 74% 51%

I am worried about healthcare costs in my

retirement 55% 58%

I have taken the necessary steps to meet my

goals 63% 39%

I am confident I will be able to retire when I

want 58% 37%

I am on track to meet my financial goals 56% 35%

I am confident I will be able to live the lifestyle I

want when I retire 56% 35%

I will have the ability to leave a

legacy/inheritance 44% 31%

I feel that when I retire I will outlive my savings 31% 32%

I am saving as much as possible but it still

won’t be enough for retirement 28% 33%

I am heavily relying on Social Security in my

retirement 22% 25%

I would like to have a financial plan, but don’t

know where to begin 20% 27%

I used to have a financial plan, but didn’t see

the value 13% 11%




Having a financial plan isn't enough to be confident

that you will reach your goals

56 9/9/2016




Those confident with their financial

plan are more likely to agree they are

on track for their goals.

Over eight in ten of those confident in their plan

believe their financial goals are realistic (85%) and

they have taken the necessary steps to meet their

goals (80%).

Both those confident and not confident with their

plan are equally likely to state they are worried

about healthcare in retirement (52% and 60%

respectively)

Future Financial Position (Top-2 Box Score – By Those Confident/Not Confident With Plan)

Financial Statements Confident

With Plan

Not

Confident

With Plan

n=389 n=174



retirement 52% 60%


goals 80% 26%


want 74% 21%










retirement 20% 25%




the value 16% 9%




Those not confident with their plan are less likely to

have regular deposits in place

57 9/9/2016

Base: Rep. Respondents Confident/Not Confident With Plan (base sizes vary by goal)


Note: Savings goals with fewer than 50 respondents answering omitted from report. / *Caution: Small base size.

Those who are not confident with their financial plan seem to be less likely to have auto

deposits set up for their goals and are instead saving or investing money when it's available.

However, most are likely to have an automated deposit set up for retirement.



Primary Approach to

Saving for Specific

Goals

CONFIDENT WITH PLAN NOT CONFIDENT WITH PLAN

Regular

Auto

Deposit

Regular

Not Auto

Deposit

Not

Regular

Just When

$ Available

Other

Way

Regular

Auto

Deposit

Regular

Not Auto

Deposit

Not

Regular

Just When

$ Available

Other

Way

Retirement 63% 20% 12% 5% 51% 25% 20% 4%

Long-Term Savings 37% 35% 24% 3% 24%* 29%* 43%* 4%*

Emergency Savings 30% 38% 28% 4% 20%* 26%* 48%* 5%*

Paying Down Debt 33% 40% 24% 4% 15%* 40%* 41%* 4*%

Big Purchase 27% 41% 29% 3% 29%* 24%* 38%* 9%*


64%

56%

52%

49%

47%

47%

38%

31%

30%

23%

23%

13%

I feel my financial goalsare realistic

I am worried about healthcarecosts in my retirement

I have taken the necessarysteps to meet my goals

I am confident I will beable to retire when I want

I am on track to meet myfinancial goals

I am confident I will be able to livethe lifestyle I want when I retire

I will have the ability to leavea legacy/inheritance

I feel that when I retire Iwill outlive my savings

I am saving as much as possible but it still won’t be enough for retirement

I am heavily relying on SocialSecurity in my retirement

I would like to have a financial plan, but don’t know where to begin

I used to have a financial plan, but didn’t see the value

Attitudinally, most are less confident about reaching

their goals

58 9/9/2016




About two thirds feel their goals are

realistic but only half feel they have

taken the necessary steps to meet

their goals.

About two thirds of investors believe their financial

goals are realistic (64%) but are worried about

healthcare costs in their retirement (56%).

Less than one half are confident they will be able to

retire when they want (49%), they are on track to

meet their goals (47%), or that they will live the

lifestyle they want when they retire (47%).

Very few agree they would like to have a financial

plan but don't know where to begin (23%) or that

they used to have a plan but didn't see the value

(13%).

Future Financial Position (Top-2 Box Score – By Rep. Respondents)


Success is defined primarily as creating or

maintaining a certain lifestyle

59 9/9/2016

Base: Rep. Respondents With Each Type of Savings (n=1004)

Q4. In general, how do you define savings or investment success as it relates to your financial goals?

Coded responses to an open-ended question; Responses 1% or less of total omitted from report.

44%

14%

9%

6%

5%

4%

4%

3%

3%

2%

2%

30%

18%

9%

2%

17%

9%

5%

3%

3%

9%

Lifestyle & Accomplishment Goals (Net)

Living comfortably in retirement

Living comfortably now

Having enough for emergencies

Accomplishing my goals

Being debt-free

Being prepared for future

Savings for big purchases/vacations/house

Having enough to pay the bills

Having current lifestyle in retirement

Being frugal/disciplined

Growth of Investment (Net)

Saving (specified or unspecified amount)

Growth (unspecified amount)

Saving certain # of months of expenses

General Statements of Success (Net)

Level of Success: good/great/fantastic

Investment Style: Conservative/committed/diverse

Importance of Success: Important/very important

Some other way

No answer; Not sure

Most define their goals either by the

lifestyle they achieve or growth of

their investments.

Investors are most likely to define their investment

success in terms of accomplishing lifestyle goals

(44%), such as living comfortably in retirement

(14%), comfortably now (9%), and having enough

for emergencies (6%).

In addition, many just want to see growth in their

investments (30%), in their savings (18%), or

growth overall (9%).

There are few differences across subgroups in

how they define success.

How Savings/Investment Success Defined (Unaided) (Rep. Respondents)


Category Nets


Detailed Findings


Gender Differences


Males are more likely to have a financial plan

61 9/9/2016

Base: Rep. Respondents (Total n=1004; Males n=466; Females n=538)



Q10.HAVE A PLAN: Which of the following steps, if any, have you taken to plan for your financial future?

Q12. COMPREHENSIVE: Do you currently have this type of plan?

16%

17%

15%

40%

42%

38%

Rep. Sample

Males

Females

Males are somewhat more likely than

females to have a financial plan.

Males are more likely to say they have a plan when

asked directly (Q12).

Females tend to be more unsure about how to

develop a plan.

Status of Current Financial Plan (By Gender)

56%

53%

59%

Have Plan

(Net)



Have Comprehensive Plan (Q12)

Have a Plan (Q10)

19%

27%

Males Females

"I would like to have a financial plan,

but don’t know where to begin"


Males at the 90% confidence level.


Base: Rep. Respondents (Males n=466; Females n=538)

Investing questions (D8/D9)



Females are more likely to use an advisor

62 9/9/2016

Investment Style (TDA Segmentation)

48%

26%

13% 12%

37%

28%

14%

28%

Soloist Validator Collaborator Delegator

66%

65%

63%

62%

61%

60%

59%

56%

37%

35%

35%

27%

61%

62%

60%

60%

54%

58%

54%

51%

46%

38%

44%

37%

I have more in my savings andinvestments than I do in debt (other

than mortgage)

I usually pay off the full amount of mycredit cards each month

I consider myself extremelyfinancially responsible

I consider myself a saver

I am in control of my investments

I have a habit of saving money regularly

I have taken the steps neededto create a strong financial future

When it comes to my financesI am a disciplined planner

I need someone to help me makethe right investment decisions

I don’t really have specific financial goals; I just save

as much as possible

I keep an eye on my investmentsbut not as closely as I should

I would like to be better atmanaging my finances, butdon't know where to start

Investing and Savings Attitudes (Top-2 Box Score)



Females

Males

50% 57%

Males Females

Use an Advisor


Females are less likely to be "ahead" in their

progress toward achieving their goals

Base: Rep. Respondents (base sizes vary by goal)


Note: Savings goals with fewer than 100 respondents answering omitted from report.

Females are more likely to say they are behind in their goals to

save for retirement or amass their long-term savings targets.



Progress Toward

Saving for Specific

Goals

Males Females

I'm

Ahead

Where

Should Be

I'm

Behind No Idea

I'm

Ahead

Where

Should Be

I'm

Behind No Idea

Retirement 26% 41% 29% 4% 17% 46% 31% 5%



Paying Down Debt 20% 44% 37% 0% 16% 47% 37% 1%

Big Purchase 23% 52% 22% 3% 18% 52% 28% 2%

Income For Current Needs 31% 50% 17% 1% 23% 54% 22% 1%

College Savings 17% 50% 32% 1% 18% 48% 31% 3%


74% 65%

Males Females

Females are less confident they will reach their goals

64 9/9/2016

Base: Rep. Respondents (Males n=466; Females n=538)



Base: Rep. Respondents who have plan (Males n=276/Females n=287)

Q13. How confident are you that this current financial plan will help you reach your goals?

Males are more likely to agree they are on

track to reach their goals.

Females are less likely to feel their financial goals are

reasonable, have taken the necessary steps to reach

them, will be able to retire when they want to, are on

track to meeting their goals, and are confident they will

be able to live the desired lifestyle in retirement.

They are more likely to want a financial plan but are

uncertain how to create one.

Future Financial Position (Top-2 Box Score)

Financial Statements Males Females

n=466 n=538



retirement 54% 58%


goals 55% 50%


want 54% 44%










retirement 23% 24%




the value 12% 13%



Confidence in Meeting Goals (Top-2 Box Score)


About TD Ameritrade

65 9/9/2016

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people and education to help make investing and trading easier to understand and do. Online or over the phone. In a branch or with an

independent RIA. First-timer or sophisticated trader. Our clients want to take control, and we help them decide how - bringing Wall Street to

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Documents

Goal Planning SurveyFinancial Goal Planning 5 Not Having a Financial Plan 23 Long-Term Savings and Retirement 31 Financial Advice 41 Confidence 49 Gender Differences 60 This document