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Virginians 50+ Deeply Concerned About Retirement, Finances, Health and Long-term Care

Among the survey’s findings:

  • Over half of Virginia adults 50+ say that health care issues are the top problem or challenge facing mid-life and older adults in their state. About three in ten cite economic issues as the largest challenge.
  • More than nine in ten say staying healthy, staying mentally sharp, time with family and friends, and having adequate health insurance coverage are extremely or very important to them.
  • Eight in ten Virginia adults 50+ worry about one or more financial issues. Public assistance benefits and maintaining finances and lifestyle in retirement are worries for over half.
  • Half of adults 50+ have had a problem paying monthly costs for household utilities.
  • Eighty-seven percent worry about one or more consumer financial security issues. About three in ten express concern about protecting themselves against identity theft and unfair and deceptive financial practices.
  • Among employed adults 50+ only 15 percent plan to retire and not work when they reach “retirement age.” Three in ten plan to continue working at their current job. One in ten plan to work part-time and provide care for parents or grandchildren. Four in ten plan to work part-time for other reasons.
  • If the economy does not improve, three in five adults 50+ plan to delay retirement and work longer. Over one-third play to delay their retirement from one to five years.

The survey is one of several tools that AARP leaders will use on both the state and national level to guide the association’s work in the near future.

“This survey points to some serious concerns that Virginians 50+ share,” Kallio said.

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