Older metro Atlantans feeling less secure than peers elsewhere

Metro Atlantans age 55 and older are more likely than their peers in seven other major U.S. metro areas to say they feel less financially secure than they did one year ago, a new survey from AIG Life and Retirement found.

This year, 61 percent of people in metro Atlanta who were surveyed said they’re feeling less secure, compared to 54 percent nationwide.

Only one in five metro Atlantans surveyed said they are prepared to be financially independent during retirement, while 55 percent they feel less prepared to retire than they did last last year.

The survey was done by AIG with Age Wave, a company specializing in generational issues. More than 3,400 Americans were surveyed.

The study determined that, overall, Americans age 55 and older are more cautious than they were before. Their caution hasn’t slipped despite a gradually improving economy, and they’re focused on spending less, investing cautiously and  trimming debt.

Among metro Atlantans, 62 percent said they are working harder to cut their debt _ that was the highest percentage among cities.

3 comments Add your comment

Ahmad

December 3rd, 2012
12:14 pm

Older people are more likely to be real property owners and for many their house or condo is their biggest asset. No surprise that they’re going to feel less financially secure when they see the value of their home plunge to less than they paid for it.

The Unmutable law of Economics

December 3rd, 2012
12:47 pm

The “Greatest Generation” allowed the Ponzi scheme of Social Security to keep taking and taking from every generation since. The system was unsustainable from the beginning, yet everyone kept supporting it. Now the unfunded liability for it and Medicare alone is over $100Trillion dollars. The older folks vote more than the young, and they keep electing folks who wish to kick this can farther and farther down the road with no regards for the futures of their children and their grandchildren. They have allowed the Federal Reserve to destroy their savings and the value of the dollar, and the global economy is just one major event or government false flag away from total collapse. I don’t understand why 100% of older folks arent terrified of the future. Frankly I can’ t understand why that sentiment isn’t rampant in our country. There is absolutely NOTHING the republicans or democrats are doing that will make anything better. There needs to be pain as this artificially inflated bubble must burst and the debts liquidated. There is no other course of action that will do anything other than postpone the pain and make the inevitable crash that much larger.

Maybe the older folks in Atlanta are just more aware of how bad the situation has become while the rest of the country is still under the spell of the government media lie machine.

unmutable truth of reality

December 5th, 2012
8:56 am

I am fed up with people saying the baby boomers allowed this and allowed that. All we have done is work hard and smart to get from the recession that Vietnam created to the W debacle. If you haven’t noticed these politicians do whatever they please regardless of our voice. Young people vote just as much that is how Obama was elected.Not a knock just statistical proof. The unmutable truth is we have gone global and lost our manufacturing base to cheaper labor countries just how Europe lost it to us 60 years ago. What would you have suggested our generation do, storm the White House and stage a government uprising to keep these idiots from raiding Social Security? They are doing what they want with the money when they want in this new era of unaccountability.If you think we somehow created a problem I can guarantee you this Xbox, Teen Mom, Facebook generation is going to do zero to fix it. Unless legalizing pot like in Colorado and Washington will make the problem forgettable at least.