Personal Finances

Nearly six-in-ten Americans say it is “unacceptable” for homeowners to stop making their mortgage payments, but more than a third say the practice of “walking away” from a home mortgage is acceptable under certain circumstances. Homeowners whose home values declined during the recession and those who have spent time unemployed are more likely to say that “walking away” from a mortgage is acceptable.

The recession has made five familiar consumer items far less of a necessity in the lives of Americans.

Long-term unemployment takes a much deeper toll than short-term unemployment on a person's finances, emotional well-being and career prospects.

In the past, when relatively few wives worked, marriage enhanced the economic status of women more than that of men. Recently, however, the economic gains associated with marriage have been greater for men.

Among workers ages 50 to 61, fully 63% say they might have to push back their expected retirement date because of current economic conditions.

About half of all current retirees say they retired because they wanted to.

Older adults are staying in the labor force longer, and younger adults are staying out of it longer. Both trends intensified with the recession and are expected to continue after the economy recovers. One reason: Older workers value not just a paycheck, but the psychological and social rewards.

The American work force is graying -- and not just because the American population itself is graying. Older adults are staying in the labor force longer, and younger adults are staying out of it longer.

Some 69% of Americans have used the internet to cope with the recession as they hunt for bargains, jobs, ways to upgrade their skills, better investment strategies, housing options, and government benefits.

There is a sizable gap between the expectations that young and middle-aged adults have about old age and the actual experiences reported by older adults themselves.