Older Americans' Worries Similar to Everyone Else's

According to an article titled “Boomers’ ‘Anxiety Index’ High, Voter Survey Reveals,” new research shows that among people ages 50 to 64 who are still in the workforce, the greatest concerns are:

• Inflation
• Taxes
• The opportunity to eventually retire
• Financial security during retirement
• The affordability of health care

These are very likely similar to the concerns of people in their 20s or 30s who say that they cannot find work that fits their educations or experience. Many will never receive the benefits that their parents or grandparents did as part of the jobs that they had. And some have been out of work for long periods, which in many cases has caused an erosion of skills. It is more and more common to hear that the current generation of young Americans will be worse off financially than their parents — something that has not happened in recent history.

The other major finding of the research about these people ages 50 to 64 is that “65 percent have little confidence that they will have the means to live comfortably in retirement.” Based on the economy as it currently is, and likely will be for some time, many Americans can say the same thing.

Douglas A. McIntyre