Wednesday, June 09, 2010

Our Money Survey Reveals What Matters

According to, 1000 Americans have participated in a money survey through Synovate eNation and the results regarding Americans and their money are very interesting. Knowing these answers could help you understand your customers or clients if you have a business or a product to sell. While over half of those surveyed said that recent economic challenges had caused them to better align their personal values with their financial decisions, on the flip side, the recession has taken its toll on their charitable activities. Asked if they give back either financially or through volunteer efforts, a whopping 34%said no. The survey reported some other information as well, take a look:

Americans seem to be "struggling," at least that’s how one-third of the 1,000 respondents replied when asked to describe their financial situation. Another 24% said that they were worried, versus 29% who described their financial situation as stable. What's more, 43% said their finances had gotten worse over the past two years.

Their concerns have shifted. "Not enough retirement savings" continues to top the charts, cited by about one-fifth of survey respondents. But Americans now worry more about losing their job than they did two years ago -- 18% versus 15% -- and are less concerned about credit-card debt -- 13% versus 18% two years ago.

They're less willing to take risks. A whopping three-fourths of those interviewed say recent market volatility has affected the way they handle money at least a little. And 55% are less willing to take risks with their money. "Ironically, by shunning stocks and thinking they are avoiding market-volatility risk, people are assuming the risk of simply not having enough growth in their retirement portfolio to reach their long-term goals," says Patrick Egan, director of asset management for Thrivent Financial.

To see more take a look at the article here.

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