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1 IN 10 BOOMERS NOW BORROWING FOR EVERYDAY BILLS
May 17, 2008 - The economic downturn is hitting roughly one in 10 middle-aged and older
Americans especially hard, compelling them to borrow money for everyday living expenses
and to seek help from family, friends or charities, according to a survey released Tuesday by
the AARP.
In the telephone survey of 1,002 adults 45 and older, nearly four in 10 said they had helped a
child pay bills or expenses. Among retirees, one-third said they'd helped their children pay
bills. Eight percent said they'd helped a parent pay bills or expenses. The survey's margin of
sampling error was plus or minus 3 percentage points.
One-third of survey participants said they stopped putting money into their 401(k) or retirement
account and 14 percent said they had cut back on their medications.
"We have patients coming in fewer times," said registered nurse Tucky Franz of Salisbury, Md.
"They'll cut back because of the copay."
The majority of baby boomers said they were finding it more difficult to pay for essentials and
utilities, and six in 10 said they had cut back on eating out and entertainment.
Click on the red link above to continue the story.
Source: The Huffington Post
May 17, 2008 - The economic downturn is hitting roughly one in 10 middle-aged and older
Americans especially hard, compelling them to borrow money for everyday living expenses
and to seek help from family, friends or charities, according to a survey released Tuesday by
the AARP.
In the telephone survey of 1,002 adults 45 and older, nearly four in 10 said they had helped a
child pay bills or expenses. Among retirees, one-third said they'd helped their children pay
bills. Eight percent said they'd helped a parent pay bills or expenses. The survey's margin of
sampling error was plus or minus 3 percentage points.
One-third of survey participants said they stopped putting money into their 401(k) or retirement
account and 14 percent said they had cut back on their medications.
"We have patients coming in fewer times," said registered nurse Tucky Franz of Salisbury, Md.
"They'll cut back because of the copay."
The majority of baby boomers said they were finding it more difficult to pay for essentials and
utilities, and six in 10 said they had cut back on eating out and entertainment.
Click on the red link above to continue the story.
Source: The Huffington Post
