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Survey: 70 percent of older Americans concerned about their future finances

Posted On Thu, April 7, 2011

A new poll is indicating that a high number of older Americans are so concerned about how they'll be able to afford health insurance that they may put off retirement.

The survey - titled Voices of 50+ New York and conducted by the AARP - questioned New Yorkers over the age of 50 and found that almost universally, financial concerns were high.

Lois Wagh Aronstein, director of AARP's New York division, said the country's fiscal crisis has profoundly affected the baby boomer generation.

"In the wake of the national recession, older adults don't have what they need to accomplish their most important goals due to growing concerns over healthcare and financial issues," Aronstein said.

Among the findings, the survey revealed that 70 percent were worried about how they'd maintain their lifestyle in retirement and 66 percent were concerned about losing their health insurance.

The worries carried over to their children, as 61 percent of respondents said they were fearful their kids would be worse off than they were.

These fears may be due to the large number of people who currently lack health insurance. According to U.S. Census data, 46 million Americans are not covered.

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