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Boom and Gloom

Posted on 09/13/2012 by | Chief Volunteer | Comments

Money & Savings Print Print

5929474535_0df6f82ae0_oI learned  that Baby Boomers are riddled with anxiety about whether they’ll be financially secure when they retire, and they’re less than pleased with our political leaders’ response.

A new Anxiety Index, created by AARP through a series of surveys, measures what non-retired Baby Boomer voters age 50-64 worry about. This concern overrides even their worry about health expenses, jobs, or paying too much in taxes. Almost three in four (72%) believe they will have to delay retirement, and almost two-thirds (65%) are concerned they won’t have enough money to retire.

Half of them don’t think they’ll ever be able to retire.

They hold Washington D.C largely responsible. Voters 50+ are as likely to say their financial circumstances were negatively affected by political gridlock in Washington (78%) as by the economic downturn (77%).

Voters age 50+ highlight the importance of Social Security and Medicare, which most say will become even more important when they do retire. They believe overwhelmingly that the presidential candidates have not done a good job of explaining their plans on Social Security (67%) and Medicare (63%), which they say will be important to them in deciding how to vote.

For non-retired voters age 50+, retirement security and economic security are pretty much the same thing. For more information about the results of AARP voter surveys, please visit www.aarp.org/Voters50plus.

To find out what the candidates are saying in their own words on Social Security, Medicare, and financial security, please visit AARP’s Voters’ Guide at earnedasay.org

Photo Credit: Images Money on Flickr.

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