Young investors express relatively low levels of concern over the upcoming presidential election. Learn more.
Older investors, those ages 60 and older, appear to be much more worried about the financial implications of the upcoming presidential election than investors from Generation X and Y, according to the latest monthly poll from Millionaire Corner.
Investors were asked to rate their level of concern on a sliding, 10-point scale with one equaling “very worried” and 10, “not at all worried.” Nearly two-thirds of older investors rated their concern over the upcoming general election as a one, two or three, compared to 38 percent of investors ages 40 and younger, according to our September survey.
What are older investors so worried about? The fiscal cliff appears to be the greatest concern weighing on their minds. Nearly two-thirds of older investors fear the election will fail to resolve the issues surrounding the fiscal cliff, rating the worry as a one, two or three on the sliding scale. In comparison, 28 percent of younger investors expressed similar fears over the fiscal cliff, a combination of scheduled cuts in government spending and the expiration of Bush-era tax cuts. Should Congress fail to act, the fiscal cliff threatens to push the U.S. back into recession.
Sixty percent of older investors expressed a similar level of concerns over a loss for their candidate, compared to 37 percent of younger investors, and roughly one-third of older investors say they have strong concerns about the stock market crashing as a result of the election, compared to 28 percent of younger investors.
Both older and younger investors rank the economy as the issue most likely to influence their vote, but the groups reveal different attitudes towards other election issues. Older investors rank the national debt as second most pressing and identify healthcare as third most important. Younger investors rank social issues as the second most important election issue, followed by unemployment.