-- Nearly 25 percent of those surveyed said they have postponed trips to the dentist or optometrist to save money -- More than 15 percent have stopped taking certain medications altogether or begun cutting back on the recommended dosage to continue affording their medicines -- Roughly eight percent have delayed elective procedures -- Of the 34 percent who have faced unexpected medical bills during the past year, many have been forced to find creative ways to pay those expenses: -- 28 percent have used a credit card -- 21 percent entered into a payment plan directly with their medical provider -- 27 percent have simply not paidLiving Situation:
-- More than 17 percent have had to take out a loan or trim their budget to maintain their current living situation -- Three percent have begun sharing living quarters in order to make ends meet -- Over ten percent have halted plans to move or join a retirement communityShopping Habits:
-- 21 percent of survey participants have begun shopping at bargain stores or warehouse clubs whenever possible -- More than 25 percent have stopped purchasing all non-essential big- ticket items such as televisions and autos -- Almost the same amount (25 percent) have eliminated spending on small luxury items such as Starbucks and dinners out -- 16 percent purchase only critical items when at the grocery storeFamily Assistance:
-- 25 percent of people surveyed said they have helped family members with their bills -- 10 percent said their family has helped them with bills -- Nearly 15 percent have helped with grandchildren's expenses -- More than 10 percent have allowed family members to live with themAdditional Income:
-- Almost 30 percent have sold unneeded items to make extra money in the recession -- Nearly 10 percent of those who weren't working before the recession have returned to work, and almost 20 percent expect to do so soon"Unfortunately, the 'Recession Lifestyle' is still all too real for many of our oldest citizens," continued Mr. Bachman. "It's unfortunate that in what should be the golden years of their lives, they are forced to make concessions just to put food on their tables." The independent online survey, conducted with United Sample, Inc. (www.unitedsample.com) in partnership with Golden Gateway Financial, polled a nationwide representative sample of more than 300 senior citizens aged 62 or older. Of those who participated in the survey, more than half are currently retired. A complete list of questions and percentage answers are available at the Golden Gateway Financial website or by contacting the company. To learn more about Golden Gateway Financial or to access the company's entire suite of retirement resources and tools, including its life settlement and award-winning reverse mortgage calculators, please visit http://www.goldengateway.com. About Golden Gateway Financial Golden Gateway Financial (http://www.goldengateway.com), located in Oakland, California, is a comprehensive resource for older Americans to assess their financial health. Through a unique set of online tools and information, the company helps individuals make intelligent financial decisions so they can more fully enjoy what should be the best years of their lives. The company also operates the industry's premier reverse mortgage and life settlement services with innovative new calculators and products for each, and a team of trained consultants that helps seniors better understand and evaluate their options.
Contact Information: Press Contact: Michael Azzano Cosmo PR 415/596-1978