New Seniors

A recent survey indicates 35% of homeowners owe more than what the house is worth. The last two-and-a-half years has seen home values drop precipitously. And, those wishing to sell must drop the price or wait in this buyers market. The reality of the marketplace and the attitudes of homeowners vary along many demographic lines.

All levels of government are having financial troubles. Much attention has been given to the federal situation, but state and local government are finding ways to increase revenue through hidden taxes, fees and charges. These tricks cost the average person money but is below the radar just enough to not be a cause célèbre.

A majority (53%) of respondents in a recent Rasmussen survey favored repealing the health care reform bill. The House of Representatives voted to strike down the law. And the administration seems willing to make changes but urges voters to not kill the bill. A look inside the numbers reveals that Americas opinions on this subject vary by age.

The new health care plan received a bad rating by 54% of America’s likely voters compared to 35% who believe it will be good for the country. Those 65+ see it as bad by margin of nearly a two to one. No age groups viewed the legislation positively. This may be why 60% of all respondents strongly or somewhat favor repealing the bill.

The slogan of Nancy’s Reagan’s anti-drug effort back in the 1980s, “Just say no,” should be used in dealing with the dangerously addictive spending habits of local, state of federal governments today. Even after the resounding backlash of voters in the November elections, elected officials seem reluctant to make the tough choices.

The federal government is in a spending bind. At the same time, 78% of Americans say their state is having a budget crisis, too. That represents a 19 point increase from July of last year. How will this play out as new politicians are seated in the state legislatures and governor’s mansions across the country?

We keep hearing that American’s must be fair, but opponents claim this is this simply code for redistribution of wealth. If this is the case, how does this affect the average person as some in government seek to make the playing field level for everyone?

Many New Seniors signed up for long-term care insurance as part of their retirement plan. The idea was to provide a hedge against the cost of extended health care needs beyond those covered by Medicare and supplemental insurance. Most policies pay for assisted-living facilities or home care, with premiums waived once benefits go into effect. Now policy holders are experiencing premium hikes that may make these policies unaffordable for some retirees.

Most pre-boomers remember how mothers put money away to take care of normal expenses as well as save for vacations, Christmas and “rainy days.” This taught us how to use our paychecks when we entered the workforce and throughout our lives.

A plurality of working Americans (47%) say that Social Security is a good deal for working Americans, according to a recent Rasmussen Report. With those 65+ the good deal responses jump to 63%. Among the total sample 57% were less than confident the system will pay all promised benefits, while 31% of New Seniors shared these concerns.