New AARP Poll: Three-quarters of Women Voters 50+ Report Worsening Financial Security – From High Housing to Grocery Costs

 Presidential Candidates Could Win Over Key Swing Voters by Addressing Financial Concerns, yet 80% of Older Women Voters Say Their Issues Are Being Ignored

WASHINGTON, Sept. 20, 2024 /PRNewswire/ — A new AARP poll reveals that the majority of women voters aged 50 and over are increasingly worried about the country’s economic challenges, with 69% reporting worsening economic security for seniors. Rising costs are also a major concern, with 79% citing housing, 78% grocery, and 66% medical care costs as worsening. An overwhelming 80% of women voters 50+ say elected officials are not addressing the financial challenges they face.

Conducted by a bipartisan team of pollsters, Kristen Soltis Anderson and Margie Omero, the national poll shows Kamala Harris leads Donald Trump by 12 points among women voters 50+ (54% vs. 42%), compared to a narrower 3-point lead she carries among voters overall. In January, these women favored Biden over Trump by just 3 points (46% vs. 43%) and were evenly split on a generic Congressional ballot, underscoring their status as persuadable swing voters. Now, they favor a generic Democrat by 9 points (51% vs. 42%). Notably, 96% of these women are motivated to vote in November, highlighting their pivotal role in the upcoming election.

Financial security is precarious for many older women voters. Nearly two-thirds of women 50+ (62%) say the current economy isn’t working for them, and 64% say they’re less financially secure than they expected. Alarmingly, 67% do not have a retirement savings account through their workplace, and 70% lack an individual retirement account (IRA) outside of the workplace. Less than half (38%) say they have enough money to cover three months of expenses if they lose their income, and 41% don’t have enough to cover a $500 emergency expense.

“Women voters 50+ will be a decisive force in this election. They are very motivated to vote and are looking for candidates who will give them some peace of mind about their financial future,” said Nancy LeaMond, AARP Executive Vice President and Chief Advocacy & Engagement Officer. “They don’t think that policymakers really understand the financial challenges they face today with the high cost of housing and groceries or longer-term when it comes to paying the bills in retirement, if they are even able to retire at all. AARP is committed to putting a spotlight on these women and what they care about ahead of the November election.”

Women 50+ trust Harris more than Trump to handle key economic issues, including the overall economy (46% vs. 42%), prescription drug prices (52% vs. 35%), and Social Security and Medicare (52% vs. 36%).

Additional key economic findings from the survey include:

• Protecting Social Security from cuts (93%) tops the list when asked what would help them personally, followed by lowering the cost of food (92%) and health care (84%).
• Women 50+ say that people earning less than $50,000 a year (81%), renters (81%), American retirees (80%), Americans age 50+ (79%), and people caring for older family members or loved ones (78%) are hurting in today’s economy.
• Among those who are working, more than half (59%) are not confident they will have enough money to retire at an age they’d prefer. For those who are retired, 41% are not confident they have enough retirement money saved to avoid going back to work.
• Forty-five percent of women 50+ who are still working say they cannot afford to save for retirement. 

“What concerns these women is less the ability to put food on the table today and more their ability to have financial security for tomorrow and beyond,” said Kristen Soltis Anderson, founding partner, Echelon Insights. “They worry that things feel precarious and are looking for policymakers to help them have a strong economic foundation for the long-haul.”

“These women are pessimistic about the broader economy and their own economic situation, to be sure, yet it’s still worth noting that most can pay their monthly bills,” said Margie Omero, principal at GBAO. “Few have taken more drastic economic measures to make ends meet, like ‘unretiring’ or skipping medical care.”

Women aged 50 and over are one of the largest and most reliable voting groups to turn out at the polls. While U.S. Census Bureau data shows they are a little over one-quarter (25.5%) of the voting age population and 28% of registered voters, a study by Pew Research Center found that they cast one-third (33%) of ballots in the 2022 election. They are also the largest bloc of swing voters. In 2022, AARP polling showed women 65+ in battleground Congressional districts moved from favoring Republican candidates by 2 points in July 2022, to favoring Democrats by 14 points in November 2022 – a 16-point shift that contributed to the narrowness of the Republican House majority.

Survey Methodology: 

The national survey was fielded online from August 27 – September 2, 2024. The final survey included interviews with 2,785 respondents, with a base sample of 2,045 voters in the likely electorate (LE) nationwide. Oversamples achieved a total (in the base sample + oversamples) of 1,353 women LE voters age 50+, including 207 Black women voters age 50+ and 162 Hispanic/Latina women voters age 50+. Margin of error for women voters overall is ± 2.3% and ± 3.2% for women voters age 50+.

To view the full poll findings, visit www.aarp.org/hereconomy.

About AARP

AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation’s largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org, www.aarp.org/espanol or follow @AARP, @AARPenEspanol @AARPadvocates and @AliadosAdelante on social media. 

SOURCE AARP

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