New research from Guardian shows strong generational differences among respondents asked where they would find funds to cover out-of-pocket expenses not covered by medical or disability. Younger employees, true to stereotypes, are most likely to turn to friends and family, while Baby Boomers are most likely to dig in to savings.
What would you do?
Age | 18 to 24 | 25 to 34 | 35 to 44 | 45 to 54 | 55 to 64 | 65+ |
Family | 62% | 60% | 46% | 34% | 23% | 17% |
Savings | 49% | 63% | 61% | 59% | 61% | 63% |
2nd Mortgage | 4% | 21% | 31% | 23% | 14% | 12% |
Credit Cards | 18% | 27% | 21% | 16% | 13% | 9% |
Friends | 21% | 20% | 17% | 13% | 8% | 4% |
Other Sources | 10% | 5% | 7% | 8% | 5% | 2% |
Source: Guardian Life Insurance
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