Paying for College is #1 Money Concern of Boomers and Gen X, According to SUM180 Poll


Louisville, KY, July 25, 2016—In a recent poll conducted by SUM180, paying for college received the largest percentage of responses of the four financial concerns listed. SUM180 is an online financial planning service designed to be simple and affordable.

The poll, which was directed at Boomers and Gen X, and anyone with a child under the age of 18 in the household, asked “What worries you most when it comes to your money?”

The results from the 595 respondents are:

  • paying for college – 33%
  • having enough to retire – 26%
  • paying off debt – 22%
  • paying for an emergency – 19%

“Initially, we were surprised to learn that paying for their kids’ college is the #1 worry among people age 35 and up—ahead of saving for retirement or covering an emergency expense. But when we dug a little deeper, it made sense,” commented SUM180 CEO Carla Dearing.

“Like so many other money concerns, when so many of us are this worried, chances are, there is good reason for it. People are smart and rational. In this case, they get just how Herculean the task of paying for college has become. A perfect storm of factors has come together: tuition is up, grants are down and loans are maxed. It’s no wonder that parents who want the best for their kids—including a great college education—feel that no matter how hard they try, the odds are against them,” Carla continued.

“None of this gets parents off the hook, however. If we want to send our kids to college, there are no excuses. We have to take action,” concluded Carla.

The SUM180 poll was conducted via Twitter during July. The top three occupations targeted by the SUM180 poll were:

  • professional/technical – 29%
  • homemaker – 23%
  • white collar – 21%

Respondents by income category were:

  • $75,000-$99,999 – 18%
  • $100,000-$124,999 – 14%
  • $60,000-$74,999 – 11%
  • $150,000-$199.999 – 11%
  • $125,000-$149,999 – 10%


About SUM180

SUM180 is an online financial planning service designed to make financial planning simple and affordable, and, as such, provides a radical alternative to current financial advisory offerings.

Specifically, SUM180 is differentiated in the following ways:

  • SUM180 meets individuals where they are. SUM180 plans are personalized to help individuals wherever they are right now on their financial journey; whether they’re just beginning, starting over or well on their way.
  • SUM180 plans are simple. Clients need only focus on just three of their most important next steps at any given time. This approach is empowering for most, but especially for those who have been “tuned out” of their financial picture for a period of time.
  • SUM180 doesn’t try to give clients a degree in finance. SUM180 clients don’t need to become financial experts to meet their financial goals. SUM180 provides the tools they need, without overwhelming them with the details they don’t need.
  • SUM180 offers a community for users, unfiltered. SUM180’s community forum allows users to support one another in their plans.
  • SUM180 serves; never sells. Earning and keeping client trust is SUM180’s highest priority. SUM180 never makes money based on the advice provided.

Additional information about SUM180 may be found at

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Robin Schoen
Robin Schoen Public Relations
215.505.2122 office
215.595.7542 mobile

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