Graying of the Internet Revealed

Charles Schwab & Co. Ltd. http://www.schwab.com

The generation that many thought would be left behind by the online revolution, is embracing the Internet in record numbers. Computer ownership and Internet use is soaring among seniors, with 40 percent of people over 50 reporting a computer at home versus 29 percent three years ago.

Findings are from a just completed research study conducted by investment firm, Charles Schwab & Co., Inc. (NYSE: SCH) and SeniorNet, the nation's largest non-profit group dedicated to bringing technology to people over 50.

Seventy percent of senior computer owners currently have Internet access at home, compared with just 17 percent when the first survey was conducted in November 1995 (1995 study was conducted with 55+ seniors). The number of heavy users (seniors who spend more than ten hours per week online) has more than doubled, rising from 6 percent to 15 percent over the period.

Overall, nearly half of seniors said that Internet users have access to better financial information, and more than 40 percent think they can improve their investing skills by using the Internet. Of those identified as online investors, more than nine in ten feel the Internet has provided them with greater access to financial information.

Designed to benchmark how Americans over 55 are using computers and the Internet, the survey is the first joint undertaking in a recently announced strategic alliance between Schwab and SeniorNet. Current data represents an update of research conducted in November 1995 and will be updated on an annual basis.

"The Internet is the great equalizer across the generations," said Charles R. Schwab, founder and chairman of Charles Schwab & Co., Inc. "This study reaffirms the trend that older Americans are not going to be left behind when it comes to benefiting from the online revolution."

Ann Wrixon, director of SeniorNet added, "Everything points to a powerful wave of interest in technology and the access and control it provides to people who were never seen as part of the 'computer generation.' The Internet has shifted that trend into high gear, bringing rapid change and vast new opportunities to the lives of older adults."

Additional Survey Findings:

• Top Internet Activities:
  (Based on seniors who access the Internet)
  • Exchanging e-mail with family, friends (72 percent)
  • Research a particular issue or subject (59 percent)
  • Access news or current events (53 percent)
  • Research vacation or travel destination (47 percent)
  • Get local or regional weather information (43 percent)
• Top Web sites Visited Regularly:
  (Based on seniors who access the Internet)
  • Search engine web sites (55 percent)
  • News or current event related sites (52 percent)
  • Hobby specific sites (41 percent)
  • Health related sites (39 percent)
  • Investment sites (38 percent)
• Top Financial and Investment Related Online Activities:
  (Based on Group identified as online investors)
  • Access financial news and information (81 percent)
  • Monitor and track investments (79 percent)
  • Obtain research on investments or prospective investments (74 percent)
  • Obtain quotes (74 percent)
  • Access accounts at investment companies (62 percent)

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