Baby Boomers Report Lower Levels of Confidence Regarding Savings for Healthcare, Long-Term Care
April 22, 2016 | Aging Services Risk Management
Baby boomers have less confidence in their overall economic status and in almost every measure related to paying for their long-term care than they have had in any of the past five years, according to survey results published by the Insured Retirement Institute (IRI), an association of retirement planning and financial services organizations. The survey of 800 individuals ages 53 to 69 was conducted in February 2016. Only one in six respondents reported confidence that they would be able to pay for long-term care, down from 24% in a 2012 survey; similarly, only 27% reported feeling confident that they had enough savings to pay for future health expenses, down from 37% in a 2012 survey.