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Millennials, Boomers: Their Biggest Financial Worries

Elderly Couples Retirement

 (Reuters)

Almost a third of millennials said in a Wells Fargo poll that student loans were their biggest financial worry, while retirement was the biggest concern of baby boomers.

In a survey conducted from April 15 to May 2, 2014, 29% of millennials said paying off student loans was their biggest worry, followed by 22% saying daily expenses were their only concern.  Retirement was third with 21%.

That compared with 44% of boomers expressing concern about retirement. Twenty percent said daily expenses were their only concern, and 15% worried about health care expenses.

The survey was conducted by Harris Poll for Wells Fargo Retirement Communications and WBR Market Intelligence. Interviews were conducted online with 1,639 U.S. residents between 22 and 33 to represent millennials, and 1,529 U.S. residents between the ages of 49 and 59 to represent baby boomers. The population samples were weighted to conform to Census data.

 

Biggest financial worries differ for millennials, boomers

 

 

See related: Poll: Millennials know less than others about credit scores, More infographics

 

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