Debt: The Blind Spot on America’s Road to Retirement – A Multi-Generational Study
Feb 3rd, 2009 by nafcuservices
Financial experts have long been concerned about the level of debt in America, and particularly concerned with how levels of debt affect attitudes and behavior towards retirement security. In this podcast you will hear from John Gibbons, Managing Director at Securian Financial Group, the NAFCU Services Corporation Preferred Partner for debt protection and credit insurance solutions, as he delves into astounding results from a cutting edge study that examines attitudes about debt, how those attitudes vary by generation, and the implications for credit unions.
The study explored if and how debt changes among four specific generational groups – from the young Generation Y consumers, now ages 20 to 26, to Generation X (27 to 42), Baby Boomers (43 to 61) and the Silent Generation (62 to 73), as well as among retirees and non-retirees. In particular, the study set out to answer four questions:
- How do American consumers feel about debt, and are these feelings consistent with their behavior?
- Do these feelings change across generations?
- Do Americans come to grips with debt as they approach retirement?
- Are Americans realistic about debt and how they will manage it in the future?
With more than $30 billion in assets under management and a half-century of serving the credit union market, Securian Financial Group is one of the leading providers of credit insurance and debt protection solutions in the industry.
Contact: Mr. John Gibbons, john.gibbons@securian.com; Web: www.securian.com , Phone: 651-665-1494.
Interviewer: David C. Frankil, President, NAFCU Services Corporation, 703 522-4770 x226, dfrankil@nafcu.org
Show References: www.securian.com; www.nafcu.org/securian
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