'Seniors' ride recession better than 'Boomers'?

USA research suggests that for many Seniors, the impact is much less severe than it is for younger people.

In the new Pew telephone survey, taken in March and April among 2,969 adults, here’s how many respondents in each age group said they had cut back on spending in the past year:

18-49: 68 percent
50-64: 59 percent
65+: 36 percent.

And is the recession causing stress in your family?

18-49: 52 percent
50-64: 58 percent
65+: 38 percent.

This is partly explained by the fact that many people 65 and older retired and downsized their lifestyles before the economy imploded. Most aren’t raising kids and many are not so worried about being laid off. Loss of income is a source of stress and displeasure.

According to the Pew analysis, “It’s those age 50-64 who’ve seen their nest eggs shrink the most and their anxieties about retirement swell the most. It also finds that younger adults (ages 18-49) “have taken the worst lumps in the job market but remain relatively upbeat about their financial future.
Not everyone in any category is blissful, of course. Other research has shown that happiness in old age depends largely on attitude factors such as optimism and coping strategies.

Add financial planning to the list.