Financial Concerns and the Economy Weigh on Women Age 50+ More Than Men
Older women worry about saving for retirement, paying for health care and who will care for them as they age
Fears about the economy and personal finances are bubbling to the surface for women age 50 and older, even though they feel good about time spent with family and friends and on hobbies they enjoy. Their concerns are especially acute when it comes to paying for health care, covering emergencies, and living comfortably in retirement, a new AARP survey finds.
The survey is part of She’s the Difference, AARP’s research series gauging the perspectives of older women. Women 50-plus make up a large share of registered voters, turn out to the polls at a high rate and are often a key swing voting bloc in elections. That pattern is likely to repeat in this year’s elections.
Stress over health care expenses and cost of living also emerged as top concerns weighing on women’s minds. In fact, women 50-plus say cost of living is the biggest issue facing the country.
Only 45 percent of women ages 50 to 64 strongly or somewhat agree that they can afford to pay for their health care expenses. They are less concerned about other kinds of spending. For example, about two-thirds of women 50 to 64 surveyed feel good about their housing costs and everyday living expenses such as groceries and utilities.
Caregiving has consequences for the future
Older women wonder what the coming years have in store. “They are unable to prepare for the long term as they try to keep their heads above water in the short term,” says Anderson.
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