The Great Divide: The Difference $50,000 Makes

by Lois Etienne on April 30, 2012

in Caregiver Support,Legal,Lifestyle,Senior Health and Safety

When it comes to quality of life, a new poll by the Marist College Institute for Public Opinion finds $50,000 to be “an important tipping point in personal happiness and satisfaction.”

The Generation to Generation study, conducted for Home Instead Senior Care, found households that made less than $50,000 a year — about 93 million U.S. households — were “not very happy” and were concerned about becoming a burden to family members.

Those households making more than $50,000 a year — about 60 million U.S. households –said they enjoyed a better quality of life, according to the survey.

According to the study, in the past 12 months, 64 percent of all Americans experienced at least one financial hardship and 57 percent of American cut back on household spending. With one exception, Americans with household income below $50,000 have been more likely to feel the brunt of the economic recession over the past year. They have experienced financial difficulty on many fronts. The equalizer is retirement.

Have you experienced any of the following in the past 12 months when managing your own family budget?

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