New Gallup Poll research findings show that older Boomers – those at the older end of the span (49 to 67) – feel more confident in their level of finances than do those at the younger end of the span. Their study showed that about 40%-50% of people in the 60-67 age group bracket felt they had enough to comfortably retire with when asked a series of questions about their thoughts concerning their money situations.
In the next 15 years, the number of Americans who will be aged 65 or older will rise dramatically. More and more, today’s older generation (born pre-World War II) will be replaced with the Boomer generation (born post World War II) between the years 1946 and 1964. The Gallup Poll revealed that leading edge of Boomers (age 65) are not really worrying about their finances as they get older and begin to retire. On the contrary, the study showed that Boomers become more positive on the subject the older they get.
The study also showed that the percentage of even older Americans (85 to 91) who felt content about their finances rose even higher to about 55%. They weren’t worrying that they spent too much in years past and were still confident that they could afford a major purchase like a car, appliance, or expensive home repairs like a roof, etc.
The researchers concluded that with such a large number of Americans who will be 65 and older in the next 15 years, their positive feelings about their finances bode well for the health of the future economy as well.