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50+ and Worried about Today and Tomorrow

Older Americans Express Concerns about the State of the Economy and Their Current and Future Financial Well-being

by: Sara E. Rix, from: Public Policy Institute, November, 2011

This and Related Reports

Fact Sheet (10 Pages, PDF)
Previous Report:"50+ and Worried: Recovering from the Great Recession; Long Struggle Ahead for Older Workers"
Fact Sheet:"The Employment Situation, September 2011: Good News for Older Jobseekers Remains Elusive"

This report by Sara Rix highlights growing concerns about current and future financial well-being.

Few Americans aged 50-plus feel that the economic situation has improved over the past year and many remain worried about their economic security. Nearly half think their standard of living in retirement will be worse than their parents and most fear their children’s retirement prospects will be worse than theirs.

Report Highlights:

More than two years after the official end of the recession, Americans aged 50 and older remain deeply concerned about their current and future financial well-being. Few feel that either the economic situation or job opportunities have improved over the past year.

Regardless of employment status, most lack confidence in their ability to find a job anytime soon.

Nearly half anticipate that their standard of living in retirement will be worse than that of their parents or parents’ generation; even more expect their children’s retirement standard of living to be worse than theirs.