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Boomers Pessimistic About Their Financial Situation

Posted Aug 13 2012 9:00am



According to Gallup, older Americans (75+) feel better about their personal financial situation while those aged 18 to 64 feel the least positive. Those aged 75 and older are the most likely to say they feel good about the amount of money they have, are satisfied with their standard of living, have more than enough money to do what they want, and have enough money to buy what they need.

These data, from Gallup Daily tracking interviews conducted Jan. 1-May 2, 2012, reveal that Americans of typical retirement age -- 65 and older -- feel relatively good about how much money they have.

However, the views of those aged 50 to 64, a group nearing retirement, are more in line with -- and often less positive than -- those who are younger rather than those who are older than them. Americans in this age group are the least likely to feel good about the amount of money they have and to be satisfied with their standard of living.
The oldest Americans are the least likely to believe that their financial situation is improving. Older Americans' higher reliance on fixed incomes remains mostly stable over time. Younger Americans, on the other hand, likely believe their incomes will increase in the future.

While 50- to 64-year-olds are much less likely than those who are older to be satisfied with their current standard of living, they are more likely than their elders to say that their standard of living is getting better.
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