Cost of Health Insurance Tops List of Baby Boomer Financial Concerns.Business Editors/Real Estate WritersBLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--July 2, 2003 57% of surveyed baby boomers See generation X. list the cost of health insurance as their top financial concern according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Baby Boomer baby boomer also ba·by-boom·er n. A member of a baby-boom generation. Noun 1. baby boomer - a member of the baby boom generation in the 1950s; "they expanded the schools for a generation of baby boomers" boomer Report, a newly released survey commissioned by Del Webb, the active adult brand of Pulte Homes (NYSE NYSE See: New York Stock Exchange :PHM). "Finances are on the baby boomers' mind as they ready for retirement," said Dave Schreiner, vice president of active adult development for Pulte Homes. "Even with the abundant focus on fitness and wellness in our communities, long term financial considerations are critical to our residents. The current discussion over prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, benefits and other adjustments to Medicare will be very meaningful for the baby boomers." According to the survey, boomers are not confident the money will be there when it's needed. 76% of those surveyed are not confident they will have enough income in retirement and 36% reported thinking about their retirement finances nearly every day. Also on the list of top financial concerns is the loss of social security benefits (ranked number 3 at 31%) and the cost of long term insurance (ranked number 6 at 20%). Because of this, the size of the retirement nest egg Nest Egg A special sum of money saved or invested for one specific future purpose. Notes: Examples of the purposes for which nest eggs are usually intended include retirement, education, and even entertainment (vacations and cruises). is growing. On average, surveyed boomers feel they will need approximately $800,000 in savings for retirement and expect it will need to last as long as 19 years. About the Survey: Del Webb surveyed approximately 1,300 boomers nationwide to collect their opinions on relocation, financial preparedness and health and fitness. This year, Del Webb reached out to boomers between the age of 44 and 56 who were either employed full time or seeking full time employment. This group represents the segment of the baby boomer generation that is actively planning for their retirement and whose retirement attitudes and perceptions provide a window into future retirement trends. Download other Baby Boomer Report news releases or the complete survey report at www.pulte.com/pressroom/babyboomerreport.asp About Pulte Homes: Pulte Homes, Inc., (NYSE:PHM) based in Bloomfield Hills, Michigan Bloomfield Hills is a city in Oakland County of the U.S. state of Michigan. It is located in the Metro Detroit area, nearly completely surrounded by Bloomfield Township; it also borders the city of Birmingham. As of the 2000 census, the city population was 3,940. has operations in more than 44 markets across the United States. Under its Del Webb brand, the Company is also the nation's leading builder of active adult communities for people age 55 and older. Over its history, the Company has constructed more than 330,000 homes and was named Builder of the Year for 2002 by Professional Builder magazine. Pulte Mortgage LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is a nationwide lender committed to meeting the financing needs of Pulte Homes' customers by offering a wide variety of loan products and superior customer service. On the web: www.pulte.com www.delwebb.com |
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