MetLife Mature Market Institute interviewed a nationwide sample of age 60+ adults to gauge their feelings about the current U.S. economy and the specific actions they were taking or considering as a result.
The new Quick Poll reveals about Americans 60 years old and over:
• A large portion (85%) of respondents believe the current economy is already in a downturn, with half (50%) of respondents believing the downturn will last over twelve months. In fact, a strong number of respondents (53%) believe the current economic conditions are worse than they have ever experienced.
• Most (87%) are feeling a “pinch” and are cutting back on their spending with 70% cutting back on essentials like food and transportation, while 17% also report having to increase their financial assistance to family and/or friends as a result of the current economy.

MMI Studies