April 2010

Retirement and Medical Bills Top Financial Worries

From WebCPA.

Retirement and uninsured medical expenses are the most pressing financial concerns for Americans, according to a survey conducted for the American Institute of CPAs by Harris Interactive.

While retirement captures the top spot on a list of 15 financial concerns, cited by 12 percent of survey respondents, uninsured medical expenses follow closely with 11 percent of the respondents. That’s an increase from 6 percent in 2008 and 8 percent in 2009.

“If you don’t have health insurance and can get it, do so even if all you can afford is catastrophic coverage,” said Jordan Amin, chairman of the AICPA’s National CPA Financial Literacy Commission, in a statement. “Far too many people, especially younger ones, decide to forego any health insurance because of the cost and then regret the decision when they finally need it.”

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