AARP Survey Looks at Recession’s Impact on Lower-Income Adults Aged 45+
- More than one in four adults 45+ (28%) stopped contributing to retirement savings in the past six months, and 14% of adults aged 45 to 64 reported having to prematurely withdraw funds from retirement savings vehicles — a trend that has increased at a significant rate over the recession.
- When asked about current value of retirement savings available, nearly half (48%) reported having less than $50,000 in savings, with 16% of those reporting no savings at all.
- With many older workers currently facing extended unemployment, a large majority (63%) of respondents said that, based on what they have experienced or observed, older workers face age discrimination in the workplace.
- Twenty percent of people aged 45+ reported problems paying their medical bills in the last six months. The percentages were significantly higher for Hispanics (29%) and African-Americans (33%).
- More than a quarter of people aged 45+ have put off or postponed getting needed healthcare or dental treatments or services in the last six months
- Gas prices continue to be a challenge for more than a third (35%) of people aged 45+, but finding adequate public transportation alternatives is also a problem, 34% say.
- A third of people aged 45+ report they are fixing up their homes to stay there longer even as almost half (45%) note that their community lacks affordable housing if they chose to move.