Poll: Kids still better off than parents

The vast majority of Americans believe that they are better off financially than their parents were at the same age — but fewer respondents felt this way compared with the 1990s, a survey Monday shows.

Despite the weak economy, 69 percent of those questioned said they were better off than their parents at the same age, according to Gallup. However, the figure is down from 74 percent in 1998, the last time the polling agency asked this question.


The survey also showed that seniors were more positive about their financial situation relative to their parents’ than younger adults were.

In fact, 78 percent of seniors aged 65 or older said they were better off than their parents at the same age, compared with 64 percent of 18 to 29 year olds.

Further, there was a significant difference in responses from those making less than $30,000 a year and those making higher incomes.

Of those making more than $75,000 a year, 80 percent said that they were better off than their parents at the same age; only 52 percent of those making less than $30,000 a year said the same.

The Gallup Poll was conducted Nov. 28 to Dec. 1, with a sample of 1,012 adults and a margin of error of plus or minus 4 percentage points.

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Gallup Poll