Comparing the Future Concerns of Early Wave Baby Boomers With the Concerns of Young-Old Adults

Abstract

Using data from a statewide needs assessment survey, this study examines and compares the self-reported future concerns of two age groups in Mississippi: Early wave Baby Boomers (age 55 to 64; n = 383) and the young-old (age 65 to 75; n = 349). Items under analysis focus on issues related to future concerns surrounding financial resources, health, and employment. Results from multivariate analyses of variance (MANOVA) indicate that Early wave Baby Boomers have higher levels of future concern than the young-old group in all three areas. Hierarchical regression analyses showed that the financial and employment concerns of the Baby Boomers were higher than the concerns of the older group even after subjective well-being and income were taken into account. However, age differences in health concerns disappeared after controlling for current health and well-being. These findings suggest that the financial concerns of the Baby Boomers extend to the whole cohort and not just to the most financially stressed.