MassMutual Asian American Retirement Risk Study
M A Y 2 0 1 8
2
Background & Methodology
Background • To better understand the investment preferences and philosophies of those approaching retirement as well
as retirees, MassMutual commissioned a survey of pre-retirees within 15 years of retirement and of retirees no
more than 15 years into retirement.
Methodology • On behalf of MassMutual, Greenwald & Associates, an independent research firm, conducted an online
survey that included 804 pre-retirees and 801 retirees. Respondents were drawn from ResearchNow’s online
panel. To qualify for the survey, all respondents had to be at least 40 years old.
• Pre-retirees were required to have a household income of at least $40,000, work full-time for a private
sector employer, and be participating in that employer’s DC retirement plan.
• Retirees were required to have total investable assets of at least $100,000. They had to be retired from
a private sector employer and participating in that employer’s DC retirement plan at the time of
retirement.
• The survey fielded in January 2018.
• This survey also included oversamples of some key sub-groups of the population, including Asian Americans.
Between the main sample and oversample we collected 199 interviews from Asian Americans, including 129
pre-retirees and 70 retirees.
Please note that Asian American is defined in this research as Chinese, Asian Indian and Korean.
3
Asian American Key Findings
Asian Americans are more vigilant investors compared to Americans overall.
• Making a poor investment decision (67% vs. 54%) and taking on too much risk (69% vs. 44%) are more
concerning to Asian Americans. Asian American pre-retirees (75%) are especially concerned about taking
on too much investment risk.
• Their cautiousness translates to their retirement investment approach and market expectations. Asian
Americans are more likely than Americans overall to believe workers approaching retirement should cut
back on investing in equities (64% vs. 53%). They are more likely to aim for their assets to match the market
(43% vs. 32%), while Americans overall are more inclined to want their assets to outperform the market(65%
vs. 55%).
• Asian Americans are less likely to have committed a “bad plan behavior.” One in four Americans overall
(25%) have withdrawn money from their retirement account, taken out a hardship loan, or suspended
contributions; only one in ten Asian Americans say the same (11%).
• Despite Asian Americans’ expressed opinions about cautious investing, there is no significant difference
between Asian Americans and Americans overall in regard to their overall risk tolerance and their current
investment mix.
Asian Americans have a stronger preference to be heavily involved in managing their finances
and investments.
• Asian Americans are less likely to work with an advisor. A little over one in three Americans overall are not
currently working with an advisor (35%) compared to nearly 7 in 10 Asian Americans (69%).
• There is a very strong desire among Asian American retirees in particular to be in control of their finances.
Compared to general population retirees, Asian American retirees are more likely to enjoy managing their
own money (80% vs. 59%). When looking only at Asian Americans, only two in five retirees (42%) prefer an
investment that allows them “set-it-and-for-get-it” compared to nearly three in four pre-retirees (72%).
• Target Date Funds are a little less appealing to Asian Americans as one in ten (11%) find them very appealing
compared to one in six Americans overall (17%).
4
Asian American Key Findings
There is room for financial education and improved marketing efforts to Asian Americans.
• Fewer Asian Americans are confident projecting how many years they will spend in retirement and
therefore are not planning to meet those needs. Over half of Asian Americans (53%) are uncertain
about the length of their retirement compared to a little over one-third of Americans overall (36%).
• Moreover, fewer Asian American retirees (63%) are confident they know how to claim Social
Security at the right time to maximize its benefits, than American retirees overall (75%).
• These data suggest that workplace retirement plans are less satisfactory to Asian Americans.
Though total plan satisfaction rates are comparable between Asian Americans and Americans
overall, Asian Americans are less likely to be very satisfied with several aspects of their retirement
plans including the performance of investments in that plan (36% vs. 19%), options available at
retirement (34% vs. 17%), and education and advice available through the plan (29% vs. 14%).
5
Health care costs and being in poor health are the top retirement concerns for Asian Americans.
26%
22%
18%
15%
13%
4%
2%
33%
17%
13%
14%
18%
2%
2%
Health and long-term care costs
Not having enough money to enjoy yourself
Running out of money
Losing the ability to be active
Being in poor health
Feeling less useful
Losing touch with family and friends
General population Asian Americans
What is your greatest worry about your retirement years? (General population n=1,605; Asian Americans n=199)
Greatest Worry About Retirement Years
6
Asian Americans are more confident than Americans overall they will have enough money to meet their retirement lifestyle goals.
• Fewer Asian American retirees (63%) feel they know how to claim Social Security at the right time compared to
retirees overall (75%).
• Nearly all Asian American retirees (96%) are confident their retirement income will last their lifetime; fewer than
two in three Asian American pre-retirees (63%) say the same.
• Asian American pre-retirees are more likely than pre-retirees overall to indicate they are not worried about
financing their retirement (51% vs. 37%).
To what extent do you agree or disagree with each of the following statements? (General population n=1,605; Asian Americans n=199)
Agree/Disagree
21%
13%
13%
14%
14%
14%
10%
11%
47%
53%
52%
56%
48%
60%
36%
44%
24%
23%
28%
27%
29%
23%
39%
33%
7%
11%
7%
3%
9%
3%
15%
12%
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
Strongly agree Somewhat agree Somewhat disagree Strongly disagree
(I know how to/I did) claim
Social Security at the right time
to optimize my income
My retirement income will last
as long as I live
I have enough money to meet
my retirement lifestyle goals
I am not worried about
financing my retirement
7
16%
27% 24%
26%
6%
1%
17%
25%
30%
14% 12%
1%
Less than 50% 50% to less thantwo-thirds (65%)
Two-thirds (66%) toless than 75%
75% to less than90%
90% to 100% More than100%/More income
than when youwere working
Total Asian Americans
Seven in ten Asian Americans (72%) believe they need a retirement income replacement rate of less than 75%.
• Asian American pre-retirees are more likely than pre-retirees overall to anticipate needing to replace 90% or
more of their pre-retirement income in retirement (17% vs. 7%).
[IF PRE-RETIREE] About what percentage of your pre-retirement income do you think you will need to live comfortably in retirement?
[IF RETIREE] Now that you’re retired, about what percentage of your pre-retirement income do you find you need to live comfortably? (General population n=1,605; Asian Americans n=199)
Pre-Retirement Income
8
Over half of Asian Americans are uncertain about the length of their retirement; one-third of Americans overall say the same.
•On average, Asian American retirees plan to spend a longer time in retirement than Asian American pre-retirees
(28 years vs. 21 years).
Based on all of your sources of income in retirement, for how many years do you think your savings and investments will provide enough income for you to live comfortably in retirement? (General population n=1,605; Asian Americans n=199)
Expected Years of Living Comfortably in Retirement vs. Years in Retirement
General Population Asian Americans
3%
14%
23%
15%
5%
3%
37%
2%
18%
28%
13%
2%
<0.5%
36%
Less than 10
10-19
20-29
30-39
40-49
50 or more
Not sure/No way of knowing
Years savings will last Years in retirement
6%
12%
16%
14%
6%
3%
43%
2%
18%
17%
9%
2%
0%
53%
Less than 10
10-19
20-29
30-39
40-49
50 or more
Not sure/No way of knowing
Years savings will last Years in retirement
Median Years in
Retirement General population 24 Asian Americans 21
Median Years Savings
Will Last General population 25 Asian Americans 20
Income Gap
General population 1 Asian Americans -1
9
Concern about making a poor investment decision and taking on too much risk is higher among Asian Americans compared to Americans overall.
• Asian American pre-retirees have higher concern about taking on too much investment risk, as three in four
(75%) are at least somewhat concerned compared to a little less than half of pre-retirees overall (49%) and
Asian American retirees (46%).
• Compared to Asian American retirees, pre-retirees are more likely to be at least somewhat concerned about
falling short on income in retirement (77% vs. 48%) and low interest rates (72% vs. 31%).
How concerned are you about each of the following [IF PRE-RETIREE: in retirement]? (General population n=1,605; Asian Americans n=199) *Asked of pre-retirees only
Level of Concern
38%
44%
30%
31%
21%
19%
19%
37%
14%
16%
43%
40%
47%
49%
51%
58%
35%
30%
31%
53%
16%
12%
19%
15%
23%
17%
37%
27%
45%
26%
3%
3%
4%
5%
5%
6%
9%
6%
10%
5%
General population (n=804)
Asian Americans (n=129)
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
Very concerned Somewhat concerned Not too concerned Not at all concerned
Major losses in the value
of your investments right
before you retire*
A major downturn in the
stock market
Stock market volatility
Making a poor investment
decision that leads to
significant loss
Taking too much
investment risk
10
Seven in ten Asian Americans are comfortable taking at least some investment risk, similar to Americans overall.
Which statement comes closest to describing how comfortable you are when it comes to taking investment risk? (General population n=1,605; Asian
Americans n=199)
Investment Risk
8%
68%
21%
3%
12%
58%
28%
2%
I am comfortable taking a high level of investment risk, inorder to have the possibility of high investment returns
I am comfortable with some investment risk, in order tohave the possibility of above average investment returns
I am only comfortable with a little investment risk, eventhough I know I have to accept below average
investment returns
I cannot accept any investment risk, and I am willing toaccept very low investment returns
General population Asian Americans
11
Roughly four in five Asian Americans say their current investment mix is tilted towards moderate growth or is balanced.
How would you describe the investment mix you currently have? (General population n=1,605; Asian Americans n=199)
Current Investment Risk
10%
42%
37%
7%
2%
2%
8%
42%
40%
8%
1%
<0.5%
Aggressive growth
Moderate growth
Balance between growth and preserving yourmoney
Preservation with some growth
Completely focused on preservation
Not sure
General population Asian Americans
12
Asian Americans are more likely than Americans overall to be aiming for their investments to match the market.
When it comes to your investments, do you aim for them to...? (General population n=1,605; Asian Americans n=199)
Aim for Investments
13%
52%
32%
3% 1%
13%
42% 43%
2% <0.5%
Significantly outperform
the market
Slightly outperform the
market
Match the market Slightly underperform
the market
Significantly
underperform the
market
General population Asian Americans
NET: Outperform the Market
General population-65%
Asian Americans-58%
13
59%
41%
40%
34%
9%
8%
38%
54%
54%
62%
45%
56%
3%
5%
6%
4%
38%
28%
8%
7%
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
Strongly agree Somewhat agree Somewhat disagree Strongly disagree
Nearly all want their investments to continue to grow, but Asian Americans are more likely to suggest workers invest less in equities as retirement approaches.
To what extent do you agree or disagree with each of the following statements? (General population n=1,605; Asian Americans n=199)
Agree/Disagree
I want my investments to
continue to grow even
after I retire
It is important to take steps
to ensure you do not suffer
major stock market losses
right before you retire
As workers approach
retirement, they should
significantly cut back how
much they invest in stocks
and stock mutual funds
14
Asian Americans are less likely to strongly believe they should become significantly more conservative in retirement.
Which of the following comes closest to how you approach retirement investing? (General population n=1,605; Asian Americans n=199)
Preferred Approach to Retirement Investing
• Americans overall are a little more likely than Asian Americans to prefer “Theory A”.
16%
26% 28% 27%
4%
12%
20%
35%
27%
6%
Completely followTheory A
Follow in Theory Amore than Theory B
Follow in bothequally
Follow Theory B morethan Theory A
Completely followTheory B
General population
Asian Americans
Theory A:
Become significantly more
conservative with their money because
they need to withdraw income and may
not be able to replace assets when the
market drops
Theory B:
Do not be substantially more
conservative with their money
because they could live a long time
after retirement and need to grow
money
Net: Theory A
General population – 41%
Asian Americans – 32%
Net: Theory B
General population – 31%
Asian Americans – 33%
15
• Among those who are not working with an advisor, an equal proportion of Americans overall (31%) and Asian
Americans (32%) do not plan to do so in the future.
• Interestingly, unlike the general population, Asian pre-retirees and Asian retirees are advised at similar levels.
However, among Asian Americans, the interest in working with a financial advisor is driven entirely by Asian pre-
retirees as 99% of Asian retirees not working with an advisor do not plan to work with one.
Asian Americans are less likely than Americans overall to work with an advisor.
How many professional financial advisors do you currently work with that advise on investments? (General population n=1,605; Asian Americans n=199) [IF NO ADVISOR] Do you plan to work with a professional financial advisor in the future? (General population n=496; Asian Americans n=116)
Number of Advisors Plan to Work With Advisor in Future
56%
7%
2%
35%
26%
6%
0%
69%
One
Two
More than two
None
General population
Asian Americans
Yes
31%
No
69%
General Population
Yes
32%
No
68%
Asian Americans
16
• Compared to Asian Americans, advised Americans overall are more likely to have been advised to invest more
aggressively.
More than half of Asian Americans with advisors have been advised to change their investments as retirement approaches. Advisors suggest being more conservative.
[IF HAS ADVISOR] Has/Did your advisor recommended/recommend changing/that you change your investment mix as you approached retirement? (General population n=1,109; Asian Americans n=83)
[IF YES] What did your advisor recommend when it came to the mix of your investments? (General population n=616; Asian Americans n=48)
*Small base size, please use caution
Advisor Recommended Changing Investment Mix
While Approaching Retirement
Recommended Changes to
Investment Mix
Yes
49% No
51%
General Population
Yes
56%
No
44%
Asian Americans
10%
68%
20%
2%
11%
75%
10%
4%
That you invest moreconservatively
That you invest somewhatmore conservatively
That you invest somewhatmore aggressively
That you invest moreaggressively
General population Asian Americans*
17
• Asian American pre-retirees are more likely than Asian American retirees to prefer an investment option that
doesn’t require active management (72% vs. 42%).
• Asian American retirees are more likely than American retirees overall to enjoy managing their own money (80%
vs. 59%).
Asian Americans are more likely to enjoy figuring out how to invest, while Americans overall are more likely to prefer to delegate financial decisions.
To what extent do you agree or disagree with each of the following statements? (General population n=1,605; Asian Americans n=199)
Agree/Disagree
15%
9%
14%
15%
17%
6%
54%
56%
44%
53%
36%
39%
26%
30%
33%
24%
32%
38%
5%
5%
9%
7%
16%
17%
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
Strongly agree Somewhat agree Somewhat disagree Strongly disagree
I would prefer an
investment option that lets
me “set-it-and-forget-it”
I enjoy figuring out how to
best invest my money
I prefer to delegate
financial decisions to a
professional, rather than
do it myself
18
• Compared to retirees overall, Asian American retirees find actively managed mutual funds (71% vs. 44%),
customized investments (64% vs. 40%), and target dates funds (47% vs. 29%) less appealing.
• Asian American pre-retirees find customized investments (69% vs. 40%) and target date funds (68% vs. 29%) more
appealing than Asian American retirees.
Six in ten Asian Americans find TDFs appealing. They find actively managed mutual funds and customized investments less appealing than Americans overall.
How appealing do you find each of the following investment types? (General population n=1,605; Asian Americans n=199)
Appealing Types of Investments
24%
16%
21%
20%
19%
9%
17%
11%
53%
49%
55%
60%
52%
53%
47%
48%
78%
65%
77%
79%
71%
63%
64%
60%
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
Very appealing Somewhat appealing
Actively managed mutual funds
Passively managed mutual funds
Customized investments where the
money manager automatically
customizes the allocation
Target date funds (TDFs)
19
Asian Americans are less likely to be very satisfied with their retirement plan overall.
How satisfied are/At the time of your retirement, how satisfied were you with the following aspects of your employer’s retirement plan? (General population n=1,605; Asian Americans n=199)
42%
26% 36%
19%
41%
19%
34%
17%
29%
14%
51%
66% 56%
75%
51%
72% 52%
71% 50%
68%
93% 92% 92% 95% 91% 91% 86% 88%
79% 82%
General
population
Asian
Americans
General
population
Asian
Americans
General
population
Asian
Americans
General
population
Asian
Americans
General
population
Asian
Americans
Very satisfied Somewhat satisfied
The plan overall
The performance of
the investments in the plan
The investment
choices available to you
The options available
for what to do with your savings at
retirement
The education and
advice available through the plan
Satisfaction with Plan Aspects
20
• Asian American retirees are less familiar with actively managed mutual funds (67%) than retirees overall (82%)
and Asian American pre-retirees (77%).
Asian Americans report the same level of familiarity with different types of investments as Americans overall.
How familiar are you with each of the following investment types? (General population n=1,605; Asian Americans n=199)
Familiarity with Different Types of Investments
28%
24%
25%
23%
22%
21%
18%
12%
48%
50%
46%
47%
35%
38%
43%
41%
18%
21%
22%
25%
28%
32%
29%
34%
5%
4%
7%
6%
14%
9%
10%
14%
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
Very familiar Somewhat familiar Not too familiar Not at all familiar
Actively managed mutual funds
Passively managed mutual funds
Target date funds (TDFs)
Customized investments where the
money manager automatically
customizes the allocation
21
Only one in four Americans overall and Asian Americans are invested in a TDF.
[IF PRE-RETIREE] Do you have any funds invested in any of the following?
[IF RETIREE] At the time that you retired, did you have funds invested in any of the following? (General population n=1,605; Asian Americans n=199)
Investments in Different Funds
47%
43%
26%
25%
44%
50%
24%
24%
Actively managed mutual funds
Passively managed mutual funds
Target date funds (TDFs)
Customized investments where the moneymanager automatically customizes the allocation
General population Asian Americans
22
Asian Americans are more likely to say they don’t like TDFs because they would rather manage the money themselves.
[IF FAMILIAR WITH TDFs] To what extent do you agree or disagree with each of the following statements regarding Target Date Funds (TDFs)? (General population n=1,378; Asian Americans n=183)
Target Date Funds (TDFs) – Agree/Disagree
• This sentiment is particularly strong among retired Asian Americans, of whom seven in ten (71%) prefer to
manage their money themselves.
22%
13%
13%
7%
13%
9%
11%
11%
6%
5%
5%
7%
4%
3%
41%
54%
47%
42%
25%
33%
29%
44%
19%
22%
37%
42%
19%
23%
13%
15%
24%
35%
22%
27%
44%
32%
38%
39%
24%
23%
30%
36%
24%
18%
16%
16%
40%
31%
16%
13%
38%
34%
34%
29%
47%
38%
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
General population
Asian Americans
Strongly agree Somewhat agree Net: Disagree Not sure
TDFs are easy to use
TDFs are a good investment
because I might not have the
discipline or time to adjust my investments myself
TDFs are a “default option” if
employees do not pick our own
investments
I don’t like TDFs because I would rather manage the money myself
My employer encourages employees to invest in TDFs
I wish TDFs were more personalized
Most of the people I know at work
are in TDFs
23
One in four Americans overall have participated in a “bad plan behavior.” Only one in ten Asian American pre-retirees and retirees say the same.
Have you ever taken any of the following actions while saving in a 401(k) or other defined contribution retirement savings plan? Please select all that apply. (General population n=1,605; Asian Americans n=199)
Have you ever…?
15% 10%
6%
75%
9% 4%
0%
89%
Withdrawn money to cover a
big expense, like purchasing
a home or tuition
Taken a hardship loan, like in
a financial emergency
Suspended contributions
(after a withdrawal or other
reasons)
None of these
General population Asian Americans
NET: “Bad Savings Behavior”
General population - 25%
Asian Americans - 11%
Study Demographics
25
Demographics
General Population (n=1,605)
Asian Americans (n=199)
Age
40-54 53% 76%
55-64 32 13
65-74 12 11
75+ 3 *
Gender
Male 48% 50%
Female 52 50
Employment Status
Employed full-time 73% 79%
Employed part-time 1 4
Not employed 25 17
Education
Some high school or less * --
High school graduate 9% 1%
Some college/trade or technical school 29 13
College graduate (4-year degree) 40 39
Graduate or professional degree 21 47 *=<0.5%
26
Demographics
General Population (n=1,605)
Asian Americans (n=199)
Retired
Yes 27% 21%
No 73 79
[IF PRE-RETIREE] Within how many years do you expect to retire?
(n=804) (n=129)
5 years or less 20% 13%
6 to 10 years 31 44
11 to 15 years 49 43
[IF RETIREE] For how many years have you been retired?
(n=801) (n=70)
5 years or less 55% 67%
6 to 10 years 25 19
11 to 15 years 20 14
*=<0.5%
27
Demographics
General Population (n=1,605)
Asian Americans (n=199)
2017 Household Income
Less than $30,000 * *
$30,000 to $39,999 1% *
$40,000 to $49,999 2 8%
$50,000 to $74,999 25 26
$75,000 to $99,999 20 12
$100,000 to $124,999 18 14
$125,000 to $149,999 12 10
$150,000 or more 23 30
Savings and Investments
Less than $50,000 9% 6%
$50,000 to $99,999 6 9
$100,000 to $149,999 7 9
$150,000 to $199,999 6 5
$200,000 to $249,999 8 12
$250,000 to $499,999 19 17
$500,000 to $999,999 21 16
$1 million or more 22 23
Prefer not to say 2 3 *=<0.5%
28
Demographics
General Population (n=1,605)
Asian Americans (n=199)
Hispanic, Spanish, or Latino Descent
Yes 5% *
No 95 100%
Racial/Ethnic Background
White/Caucasian 89% --
African-American/Black 5 --
Asian/Indian/Pacific Islander 5 100%
Other * --
[If Asian] (n=55) (n=199)
Chinese 42% 66%
Indian 22 26
Japanese 16 --
Vietnamese 3 --
Korean -- 8
Other 17 --
*=<0.5%
29
Demographics
General Population (n=1,605)
Asian Americans (n=199)
Sexual Orientation
Heterosexual or straight 93% 95%
Gay 3 1
Lesbian 1 --
Bisexual 1 1
Prefer not to say 2 3
Transgender or Transsexual
Yes * --
No 99% 99%
Prefer not to say 1 1
Marital Status
Married 75% 77%
Divorced or separated 10 7
Single, never married 9 9
Not married, but living with a partner 4 5
Widowed 2 1
*=<0.5%
30
Demographics
General Population (n=1,288)
Asian Americans (n=173)
[IF MARRIED OR PARTNER] Household Decision-Making on Financial Matters
You make most of the decisions with little or no input from another household member
34% 41%
You take the lead and discuss decisions with another household member
35 30
Decisions are made in total partnership 30 29
[IF MARRIED OR PARTNER] Spouse’s/Partner’s Employment Status
Employed full-time 61% 75%
Employed part-time 7 5
Not employed 32 19
[IF MARRIED OR PARTNER] Spouse/Partner Retired
Yes 36% 24%
No 64 76
*=<0.5%
31
Demographics
General Population (n=1,605)
Asian Americans (n=199)
Do you currently own any of the following insurance or financial products? Please select all that apply.
Life insurance 69% 44%
A defined retirement plan or traditional pension plan 46% 41%
An annuity 24% 16%
Long-term care insurance 20% 11%
None of those 13% 31%
Until what age do you think that you can expect to live?
Before 70 1% 1%
70 to 79 5 7
80 to 85 27 23
86 to 89 4 2
90 to 95 24 10
96+ 3 4
Not sure/No way of knowing 36 53
Are you currently receiving Social Security retirement benefits?
Yes 18% 10%
No 81 90
Not sure * -- *=<0.5%
32
Demographics
General Population (n=1,605)
Asian Americans (n=199)
At what age (do you think you will /did you) claim your Social Security retirement benefits?
Before 63 16% 17%
63 to 65 22 14
66 to 69 30 19
70+ 14 14
Not eligible 1 5
Not sure 16 31
Actions Taken While Saving in a 401(k) or Other Defined Contribution Retirement Plan
Withdrawn money to cover a big expense, like purchasing a home or tuition
15% 9%
Taken a hardship loan, like in a financial emergency 10% 4%
Suspended contributions (after a withdrawal or other reason) 6% --
None of these 75% 89%
*=<0.5%
33
Demographics
General Population (n=1,605)
Asian Americans (n=199)
Nature of Occupation
Professional or technical 28% 52%
Mid-level or lower level Manager 22 15
Senior Manager 14 11
Administrative 12 7
Other white collar 8 2
Blue collar 7 6
Executive 5 6
Service worker 2 1
Sales or retail * 1
Medical or nurse * --
Customer service * --
Business owner * --
Teacher * --
Clerical * --
Something else 1 *
*=<0.5%
34
Demographics
General Population (n=1,605)
Asian Americans (n=199)
Industry
Manufacturing/Production 18% 11%
Business and financial 15 18
Health care 10 8
Computer technology 7 22
Services industry 7 3
Engineering 4 6
Technology (other than computer) 4 5
Construction and maintenance 4 2
Legal 3 1
Agriculture 1 1
Arts and entertainment 1 1
Education 1 6
Life sciences 1 1
Physical sciences * 1
Social services * --
Architecture * --
Mathematical or statistical * --
Other 23 15 *=<0.5%
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