Not too surprisingly the majority (55%) of respondents “said they would put a windfall into a savings account or certificate of deposit.” However the second most common answer (48%) was “Pay off debt.” That many seniors have debt? I wonder if the debt is mostly a mortgage or credit cards?
The third most popular answer (41%) was “Give some of the money to charity.” Sounds like a fair amount of seniors are interested in donating money to worthy causes. I think younger people would be a little less inclined to give the money to charities.
What would you do with a windfall of that size?
I wonder how many of the respondents who had "pay off debts" as an answer also had "give to a charity" on the same list? It would seem that seniors have plenty to worry about with the costs of health insurance, prescriptions, food, and housing... perhaps that leads to an answer as to where their debt is coming from?
Jerry
www.leads4insurance.com
Posted by: Jerry | November 28, 2007 8:44 PM | Permalink to Comment