Best Boomer Towns Blog

Retirement Survey from Gallup Poll February 2009

In a recent Gallup Poll analysis found that older Americans are actually the least worried about money. The amount of Americans with financial worries climbs from 39 percent of 18 to 29-year-olds currently worried about money to 46 percent among those age 40 to 49. Worry about personal finances then begins to drop off at age 50 and continues to drop thereafter. Only 17 percent of those aged 70 to 89 report having money challenges.

As retirees and baby boomers rapidly approach retirement age they may not worry about money more than younger people. Retirees whose savings lost value have no added income to help recoup their losses. Some baby boomers who planned to retire soon will have little choice but to work during the traditional retirement years, if they can manage find or keep their job.

Gallup asked 11,361 adults, “Did you worry about money yesterday?” They responded:

Age           Percent worried about money

18-29         39

30-39         44

40-49         46

50-59         41

60-69         29

70-89         17

Source: Gallup Poll, February 2009