Recently, Gallup researchers asked a representative sample of Americans how worried they are about their finances. What they heard from middle-aged Americans is worrisome.
In some ways, the concerns of people aged 50 to 64 are typical, such as the 72 percent who are "very" or "moderately" worried about not having enough money for retirement. Of course this is a prime financial worry--no surprise there. And it's also no surprise that only 29 percent are worried about paying for their children's college education. Most have already settled that issue one way or the other.
But here's the worry about worries: The 51 percent majority of people aged 50 to 64 are very or moderately worried about being able to pay the costs of normal health care (higher than any other age group), 44 percent are worried about being able to pay normal monthly bills (higher than any other age group), 39 percent are worried about being able to pay the mortgage or rent (equal to younger age groups), and 22 percent are worried about making the minimum payments on their credit card bills (higher than any other age group). These are the kinds of financial worries that, by middle age, should be in the rearview mirror. But they aren't. And that's worrisome.
Source: Gallup, Middle-Aged Americans Most Worried about Finances
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