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September 12, 2005
Golfers and finance
Duffers take note: Nationwide Financial and Golf Digest have conducted a study of golfers' financial savvy that has some amusing findings. Their survey found:
- While 94% of golfers know what areas of their golf game need improvement, only 45% know what aspect of their saving and investing strategies need attention.
- 85% of golfers know the score of their last round, but only 52% know the current value of their portfolio.
- 74% of golfers have increased the amount of money they spend on golf over the years, but only 54% have increased the amount set aside for retirement.
While those figures make it sound like golfers have a pretty shabby record on financial matters, they actually are doing much better than regular folks. (Click here for the press release and study results.)
Golfers on average have saved nearly $289,000 -- 75% more than non-golfers, the study found. But those golfers are still short of their financial goals since they expect to need $1.3 million to retire comfortably and had an average age of 50. That means the average golfer surveyed needs to triple his or her savings before retirement, according to the study
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