Biggest financial worries differ for millennials, boomers
Student loans concern younger set, retirement vexes older crowd
By Juan Rodriguez and Laura Mohammad
Almost a third of millennials said in a Wells Fargo poll that student loans were their biggest financial worry, while retirement was the biggest concern of baby boomers.
In a survey conducted from April 15 to May 2, 2014, 29 percent of millennials said paying off student loans was their biggest worry, followed by 22 percent saying daily expenses were their only concern. Retirement was third with 21 percent.
That compared with 44 percent of boomers expressing concern about retirement. Twenty percent said daily expenses were their only concern, and 15 percent worried about health care expenses.
The survey was conducted by Harris Poll for Wells Fargo Retirement Communications and WBR Market Intelligence. Interviews were conducted online with 1,639 U.S. residents between 22 and 33 to represent millennials, and 1,529 U.S. residents between the ages of 49 and 59 to represent baby boomers. The population samples were weighted to conform to Census data.
To use the graphic on your site, use the following code:
Published: June 25, 2014
- Infographic: 'Us' cards versus 'me' cards – In a new survey, 47 percent of Americans reported sharing all of their credit cards, while 37 percent indicated they only have separate cards ...
- Infographic: What's most financially important when – A new survey shows that for 3 in 10 millennials, putting money into savings is their top financial concern ...
- Credit card debt down across the board – Regardless of age, education or income, we dropped debt ...