Older Americans (45-plus) are the wealthiest segment of the spending public, yet half of them say they're really worried about making ends meet. This according to the findings of AARP's just- release 2004 Multicultural Study, Financial Perspectives Past, Present, Future:Traditional and Alternative Practices of the 45+ community, which tracked many of the financial behaviors amd concerns of this population. Read all about it at http://www.aarp.org/research/financial/retirementsaving/2004_perspectives.html
The majority of them said (63%) saving for a vacation is their first priority. After that 61% say paying off medical bills, and then
57% say saving for retirement, and then
45% say paying off credit cards and loans.
Yikes! Americans need to get their priorities straight.