Majority of Seniors Optimistic about Financial Preparedness, Care Options, Finds Survey
More than one-half (55%) of seniors believe care options for the aging are better for them then what was available for their parents. However 11% of seniors indicated they expect care options to be worse according to a survey of young seniors, aged 62-75.
When asked how their care options are now vs. their parents’ generation, seniors responded:
* Care options are better, 55%
* Care options are the same, 13%
* Care options are worse, 11%
* Not sure, 21%
Additionally, seniors indicated they are financially prepared for retirement with the majority of seniors ( 80% ) not expecting to be a financial burden on their children as they age. The majority of seniors (87%) also believe that they treated their parents with dignity when they aged and were not burdened financially to care for them. Further, seniors expect their children to treat them with dignity — 73% think their children will give them the same care they gave their own parents.These findings and many more senior perspectives are revealed in the Senior Sentiment Survey, a study from Financial Freedom, the nation’s largest reverse mortgage lender, which explores the financial, social and quality of life attitudes of older Americans.