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Money concerns haunt Baby Boomers
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In a comparison of Baby Boomers and seniors, it's the elders who are generally better off when it comes to economic matters, according to a review by AARP.
Here are the highlights:
- A greater percentage of people 45 to 64 say they have difficulties pay medical bills than those 65 and over. The elders have Medicare to thank for that;
- A greater percent of 45-64 have a harder time paying for gasoline;
- The lack of public transportation in their communities is a greater issue for 45-64 than it is for seniors.
When you get into the weeds of the AARP Closer Look Baseline Survey from Sept. 30 you'll find that Baby Boomers are making a lot of compromises when it comes to their health care because of the cost.
For example:
- 34 percent of Baby Boomers compared to 17 percent of seniors have put off health care or dental treatments;
- 23 percent of Boomers versus 12 percent of seniors have not filled a prescription, have started cutting their pills in half or have skipped doses;
- 27 percent of Boomers against 11 percent of seniors say they've had trouble paying their medical bills.
And it cuts to other economic matters as well:
- 27 percent of 45-64 report having problems paying for essentials such as food and utilities; 16 percent of people 65 and older reported these problems;
- 57 percent of Boomers -- versus 40 percent among seniors -- are trying to cut down on the use of their cars to cut down on their purchase of gas;
- 20 percent of Boomers say they're having problems paying their mortgage or rent compared to 7 percent for seniors.
Related story:
Baby Boomer income levels pummeled
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