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September 12, 2005

Golfers and finance

Amey Stone

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

Fore!

12:13 PM

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