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What People Over 50 Are ‘Very Worried’ About

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The economy is in the toilet, the job market is far less than ideal and higher inflation could well be on the horizon. So it’s no wonder that people are worried. And to get at exactly how worried older people, in particular, are, the AARP Public Policy Institute released a new study today entitled “50+ and Worried About Today and Tomorrow.”  Here’s a look at what they found:

What Those Aged 50+ Are “Very Worried” About

  1. Ability of Congress and the President to work together to tackle the country’s economic challenges: 65%
  2. Rising taxes: 36%
  3. High inflation: 33%
  4. Another recession: 31%
  5. Further stock market decline: 28%
  6. Having enough money for adequate health care: 26%
  7. Rising interest rates: 21%
  8. Being able to pay rent/mortgage: 13%
  9. You or your spouse losing a job: 13%

The numbers look even more severe when you consider the “very worried about” and “somewhat worried about” responses together.  For example, more than three in four people 50 and up are very or somewhat worried about high inflation (77%), another recession (80%), and Congress and the President working together (91%), and more than half are worried about rising interest rates (52%), having enough money for adequate health care (63%), further stock market decline (72%), and rising taxes (72%).

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About Encore

  • Encore examines the changing nature of retirement, from new rules and guidelines for financial security to the shifting identities and priorities of today’s retirees. The blog also explores news that affects retirement, from the Wall Street Journal Digital Network and around the web. Lead bloggers are reporter Catey Hill and senior editor Jeremy Olshan. Other contributors include The Wall Street Journal’s retirement columnists Glenn Ruffenach and Anne Tergesen; the Director for the Center for Retirement Research at Boston College, Alicia Munnell; and the Director of Research for Pinnacle Advisory Group, Michael Kitces, CFP.