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A Few Recognize What Could Be a Game-Changer For Them: Advice
Even with these important steps toward more personal financial responsibility, the survey revealed Americans’ continued concerns around their financial future. In the year ahead, only 30% agree that their family will be more financially secure and better prepared for the unexpected, and just 24% believe that they will be in better financial shape for retirement.
“The continued economic unsteadiness has hit American families hard, and the survey results echo the concern that our 12,250 agents hear across kitchen tables around the country. Clients are expressing a stronger desire to take personal financial responsibility by saving more and reducing debt. But, with the realization that they cannot rely on traditional financial safety nets any longer, they’re asking: ‘How do we protect ourselves, take care of our children now and in the future and even prepare for our own retirement needs?’” said
Some interesting findings from the survey include:
- Those most likely to say that they will reduce their debt in 2012 include those aged 45-59 (65%), men (61%), married adults (61%), and full-time workers (60%).
- Adults ages 30-59 are more likely to intend to save more next year than are those who are older (55% vs. 37%).
What Can Make the Difference in 2012
“In 2012, saving more and spending less is the order of the day, but this is not giving Americans a better feeling about their financial situations and certainly not preparing them for the unexpected. Those who are doing the right thing for their families and their finances want to have some peace of mind. Studies have shown that people who engage with a professional financial representative feel better about their financial strategies and future. That’s why our agents reach out to families and businesses in their communities and offer professional assistance that results in peace of mind,” said
According to the survey, only 14% of Americans report they plan to seek professional help managing their finances in 2012.
“Looking more closely at responses to this question, it is encouraging to see that those most likely to say that they will seek the help of a financial professional include parents, college graduates and those ages 30-44. But it is important for more Americans to think about engaging a professional. While many believe they can go this alone, or hide their heads in the sand, the continued economic uncertainties that persist today would be better managed with professional assistance,” added
These are some of the findings of an Ipsos poll conducted
About New York Life
*Based on revenue as reported by “Fortune 500, Ranked within Industries, Insurance: Life, Health (Mutual),” Fortune Magazine,
**Source: Individual Third Party Ratings Report as of 8/23/11.
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|Copyright:||Copyright Business Wire 2012|