Survey Measures Financial Optimism and Concerns of Baby Boomers

Jul 6, 2017 / Saleah Blancaflor, Horsesmouth Editorial Assistant

A recent survey by Merrill Lynch polled currently employed Millennials, Gen Xers, and Baby Boomers about what they were optimistic about when it came to their financial future as well as their concerns.

When it came to overall optimism about their financial future, Baby Boomers came in last at 22 percent. The top reasons for financial optimism were living within their means, being in good health, and having a well-paying job. When it came to concerns, women particularly worried about having to work longer than hoped, becoming seriously ill and not being able to work, and not being able to pay for a child’s education. Financial stress is causing employees to spend their working hours worrying about their personal finance problems. Baby Boomers spend one hour on average while “on the clock” worrying about their financial problems. Fifty-four percent of Baby Boomers said they wanted help when it came to managing a range of financial matters, with healthcare costs mattering the most to them financially.

 

IMPORTANT NOTICE
This material is provided exclusively for use by individuals with an active license to the Savvy Social Security Planning Program. Use of this material is subject to the Social Security Planning Program Agreement and applicable copyright laws. Unauthorized use, reproduction or distribution of this material is a violation of federal law and punishable by civil and criminal penalty. This material is furnished “as is” without warranty of any kind. Its accuracy and completeness is not guaranteed and all warranties express or implied are hereby excluded.

© 2017 Horsesmouth, LLC. All Rights Reserved.