Boomers Worry Most About Rising Prices Print E-mail



Aaron Crowe
RedwoodAge.com

While their kids worry about having too much to do, boomers worry more about paying for it all. 

That's one of the findings of a Harris Interactive Poll, which also found stress levels are rising as the US economy falters.

Percent
Concerned

Echo Boomers (18-31)

GenX
 (32-43)

Baby Boomers (44-62)

Matures

 (63+)

Rising prices

73

84

87

84

Money for emergencies

56

67

61

40

Too many things to do

70

63

52

35

Being lonely

45

28

21

13

Too much information

36

26

21

19

Work Problems

26

28

22

3

Noise

26

22

16

11

Aging parents

13

22

25

9

Problems with kids

8

23

18

14

Personal Privacy

13

14

16

15

 

The so-called echo boomers - ages 18-31 - may be famously addicted to mobile phones, i-Pods and social networks, but 36 percent of them complained about having too much information. Only 21 percent of their boomer parents found that a hassle, according to the poll of 5,210 people, which was conducted between October 30 and November 3. 

Seventy percent of the kids felt like they have too many things to do compared with only 52 percent of the older generation.

Mom and dad are more likely to be worried about the cost of things, with 87 percent saying they've recently experienced rising prices. That's about 14 percent higher than with the echo generation. Doesn't everyone remember their father yelling about the cost of something when they were young? Maybe that's just how people are wired as they get older.

Curiously, the percentage of people who feel lonely steadily declines with age. Only 13 percent of elders over 62 felt lonely, while nearly half of the 18-25-year-olds did.

Broader Concerns
For all ages, concerns about rising prices have moved up 8 percent since the last Harris survey on this subject in 2006, which isn't a surprise with the economy spiraling downward in the last year. At the same time, the percentage of people feeling "a lot of stress" moved up to 26 percent from 23 percent. 

"Right now, just one-quarter of Americans feel a lot of stress," the Harris report said. "But as worries over unemployment, rising prices and financial woes continue and, perhaps, deepen, that stress level will also increase. These 'daily hassles' may be more than just hassles as they occur more frequently."

Other recent news stories have pointed out how boomers are worried about their retirement and what they're doing to try to keep their retirement savings intact. A recent study by the Hartford Financial Services Group found that basic needs were the top financial concern for people over 45.

Besides raising prices, other top concerns in the Harris Poll listed by boomers include: Concerns about money for emergencies, 61 percent; trouble sleeping, and concerns about health in general, 49 percent each; and not enough money for basic necessities, 36 percent.

Other top concerns for their children include: no money for emergencies, 56 percent; trouble sleeping, 51 percent; being lonely, 45 percent; and concerns about health in general, 40 percent.

One figure that stood out was that more Echo boomers than their parents complained about noise - 26 percent versus 16 percent. Maybe the world is changing a bit.

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