Back in February Charles Schwab took account of the money attitudes of the Sandwich Generation (Americans with Young Adult Children, Ages 23-28, and Living Parents) as they were affected by the recession.
A majority of the respondents reported that they felt optimistic about the future and that they even felt that there was a positive side to the recession. Well thank goodness, a recession is hard enough without a bunch of Negative Nancy’s running around.
Here’s a look at some of the stats that they collected:
I’m more of a Personal Responsibility kind of a girl myself. I’m not sure that Great Change and Hope are appropriate descriptors for personal finance.
I’m actually not really sure what they even mean here.
Biggest Personal Financial Worry (Top 3)
29% – Not being able to retire
22% – Outliving my retirement money
22% – Not saving enough
A couple of notes on these:
1. What does retirement mean to you? If you retire at 65 and the average U.S life expectancy is 78.5 years, do you plan on just sitting on the front porch for 14 years? Or have you considered simply reducing your workload to part-time rather than quitting altogether?
Retirement is a wonderful light at the end of the tunnel. You may not be able to attain the ideal, but it isn’t the only option.
2. Running out of money would be bad. Running out of money and losing your ability to work would be worse. When most people retire they are still able to perform their jobs.
If you’re worried about outliving your money, push back your retirement date and save a little longer while you’re still able to.
3. Saving shouldn’t be an aimless persuit. You should have set financial goals for a set period. If you’re having trouble nailing down the figures, meet with your financial adviser, they are so handy with calculators.
Article publié pour la première fois le 09/09/2010