Poll Shows Nation Is Rich in Opinions About Wealth

Although Americans in record numbers may be tuning in to watch contestants on TV game shows win big bucks, a new survey shows that a majority of them believe that lots of money makes people greedy and insensitive.

Despite that attitude, the public often laments not having enough of it, according to a nationwide study conducted by the AARP and released Tuesday.

Among the findings:

* 34% of Americans said that they would have preferred staying home with their children if not for the need to bring home a paycheck.

* 24% said that they had to delay or abandon plans to go to college because of a lack of money.

* 23% said that they could not afford to see a doctor or get other needed health care.

* 18% said that they decided to stay married instead of divorcing because there would not be enough money to support two households.

A majority (84%) of those surveyed said they thought having a lot of money would make a person feel superior. But the study by AARP, which two years ago dropped its name, the American Assn. for Retired Persons, still painted a portrait of a prosperous and optimistic public, confident that their children will achieve an even bigger piece of the American dream.

Interestingly, most Americans (54%) define wealth as having an income of $100,000 for a family of four. And an identical percentage believe that a family of four is poor when it has an income of less than $25,000 a year. (The federal government pegs the poverty line at $17,000 a year or less for a family of four).

Financial pressures were greater for some members of minority groups, with 42% of African Americans and 41% of Latinos saying that they were forced to work outside the home, compared with 32% of whites and 34% of Asian Americans.

College plans were delayed or canceled for 20% of whites, 26% of Asian Americans, 30% of African Americans and 40% of Latinos.

Though they have some misgivings, two-thirds of Americans would enjoy becoming millionaires, the AARP survey said.

What would people do with a sudden financial windfall?

The most common answer, from 23% of the people surveyed, is that they would share the money with family and friends. An additional 20% said that they would save or invest, 14% would donate money to charity, 13% would pay off debts and 10% would buy a new home. Eighty percent said that they would keep working even if they gained sudden wealth.

The telephone survey, which consisted of interviews of a representative sample of 2,366 Americans in January and February, “is unique because it cuts across age, gender and racial lines, indicating that there are many shared core values and perceptions,” said Constance Swank, research director for AARP.