Top Financial Worries

Ann-Marie Vazzano

According to a recent Harris poll, when it comes to their households’ financial conditions, more than half of Americans (51%) say they expect it’ll remain the same in the next six months, while 23% say it’ll be better and 26% say it’ll be worse. The poll found that 68% of Americans who are employed or have a spouse who’s employed are worried they won’t have enough money for retirement, and 63% said they’re worried they won’t be able to afford health care costs. Two in five respondents said they’re worried they or their spouse will have to take on a second job to make ends meet.

Overall, more than half (55%) are worried they’ll have to work later in life because they won’t be able to afford to retire. But this percentage is greater among the younger generations. Almost two-thirds of Millennials (64%) and three-quarters of Gen Xers (74%) are worried about this. Among parents with children under 18, 63% are worried they won’t have enough money for one or more of their children to go to college, and 36% of parents are worried their child or children will have to move back in with them because they won’t be able to afford housing. Two-thirds of non-home-owning Millennials are worried they won’t be able to afford to buy a home.

Overall, 51% of Americans are worried they won’t be able to afford anything more than the basic necessities. GP