2024-04-10 | consumers economy
... 's potential interest rate cuts later this year, noting, "Our survey found that only one in three Americans believe that lower interest rates would significantly or moderately improve their confidence in achieving their financial goals."This prevailing uncertainty affects all facets of Americans' financial lives, including how they manage essential versus discretionary spending. For instance, during tax season, a period often seen as an opportunity for financial reprieve, the survey revealed that 80% of those expecting a tax refund plan to use it for essential needs such as living expenses (50...
2024-03-21 | advice retirement
... t officer at Empower.Wilson noted that Americans are living longer in retirement, demographic shifts are altering retirement time horizons, and a growing lack of confidence in the future of Social Security are all factors that may lead to an accelerated uptake in retirement income products.According to an Empower survey, approximately 60% of plan sponsors say they will likely focus more on helping participants convert their plan account balances into income.1 Plan offerings, they say, should seek to meet the retirement income needs of participants leaving their assets in their plans.“Because...
2024-03-19 | financial planning retirement
... t also with making retirement savings last longer."Additional key insights from the report include:Survey respondents with a formal plan reported 60 percent higher confidence about their financial outlookSeven in ten pre-retirees who responded to the survey were in the process of forming a retirement plan or thinking about itSixty percent of survey respondents indicated that their employers are the primary source for financial education and guidanceForty percent of respondents stated that they are willing to engage a financial advisor and are interested in using digital planning tools to help ...
2024-03-15 23:59:00 | retirement women
... with an advisor, one finding sticks out: women who are married or single (19% and 25%, respectively) state that feeling more confidence about their financial destiny is the primary reason they have an advisor.Although advisors are stepping up to the plate, they can overestimate their capacity to engage with female customers.Advisors are trying to work with more female clients as the market for solid advice becomes more and more competitive. Over the next 12 months, nine out of ten advisers (90%) aim to work with more women, an increase of 11 percentage points since August 2023. Surprisingly, 9...
2024-03-12 23:15:00 | retirement
... respondents express great or extreme confidence in their ability to outlive their retirement funds.Merely 36% of respondents express severe or high confidence in their capacity to handle their retirement funds in order to sustain their standard of living."Achieving the age of 100 is a remarkable accomplishment, but reaching that age ought to be a cause for joy instead of financial strain," stated Pinsky. "Collaborating with a financial expert to help you plan for the future you want is one of the finest ways to get started. You may better prepare for and enjoy your retirement with the assista...
2024-03-12 08:42:12 | retirement
... nts (85%) want to retire while they are still healthy enough to be active, targeting an average retirement age of 61-62. Motivating factors for determining when to retire vary by generation though; Gen Z and Millennials cite becoming debt-free or reaching career goals as top factors; whereas Boomers say they’ll retire when they emotionally ‘feel’ ready. One-in-10 Gen X respondents have not yet determined when they plan to retire, although they are continuing to save at Fidelity’s recommended savings rate of 15% of their income (this includes employer and employee contributions). Encour...
2024-02-15 | retirement financial wellness
... tion of the Retirement Income Literacy Study reiterates the themes found in most financial planning research concerning the lack of financial and retirement literacy, one thing that became abundantly clear this time around was just how important the role of the financial professional is in consumers' lives," says Chet Bennetts, CFP®, CHFC®, CLU®, RICP®, CLF®, CFP® Certification Education and Chartered Financial Consultant® (ChFC®) Program Director at The American College of Financial Services. "When we measured financial anxiety and financial stress, those with a financial profess...
2023-06-01 | investing
... o-thirds of respondents reported revisiting allocations as part of their ongoing strategy (68%), driven primarily by economic factors (63%) and concerns about inflation (53%).Despite the increasing utilization of ETFs, the survey highlighted that investment professionals continue to adopt a balanced approach, with 64% implementing a combination of active and passive strategies.Of those surveyed, 79 percent are Certified Financial Planner™ professionals, 53 percent indicated they work as an independent IAR/RIA, and 47 percent say they have more than 21 years of financial services experience.&...
2023-05-30 | demographics retirement
... ing out on their retirement planning:25% say they have plenty of time to save money for retirement later, down from 43% in 202125% say retirement is too far away for me to start worrying about it now, down from 37% in 202147% say they can’t even think about saving for retirement right now and are just trying to take care of day-to-day expenses, up from 38% in 202264% worry they won’t have enough saved for retirement, up 55% in 202155% wish they would have saved more for retirement, up from 47% in 202267% say their income is not keeping up with the rising cost of living, up from 54% in 2022...
2022-11-07 11:30:14 | consumers economy housing
... e upcoming months, in line with our estimate, as ongoing affordability issues diminish demand from homebuyers and homeowners feel hesitant to sell at potentially lower prices." Source: Fannie Mae...
2022-09-22 | consumers demographics women
... to expand. Since then, however, it's been driven further down, as high inflation impacts her spending power and the overturning of Roe v. Wade clouds her economic future. No wonder consumer confidence has been falling, even as women return to the workforce." The Ellevest Financial Wellness Survey 2022 gives further insights into women's money mindsets. Highlights from the findings show: Women are prioritizing their financial goals differently than men: There are stark differences between men and women's top financial priorities. The top priority for men? Growing retirement savings (sup...
2022-07-28 | financial advice
... lement—financial advisers and professionals—remains a crucial and possibly more significant part in developing financial knowledge and earning financial confidence, even though usage and trust of digital financial instruments are expanding. Most Americans surveyed preferred human interaction for managing their personal finances to digital options, and it's noteworthy to see that Millennials share this preference with Gen X and Baby Boomers. Are unsure what to do with their money and yearn for clarification. When it comes to how people set up their short- and long-term finances and how f...
2022-07-27 | consumers economy
... ial, Inc.'s latest Pulse research series "Americans Prepare For the Economy's New Act" finds that fears of an economic downturn as well as high inflation could threaten the financial stability and confidence of Americans right after the end of the pandemic. Among the key findings of this report are: 74% expect a recession in the next two-years-- while 79% worry about how inflation might impact their financial security. Americans are taking steps to prepare for tougher times ahead. They have cut back on entertainment and meals outside of the home (42%), ca...
2022-04-26 12:00:00 | consumers
... in Ukraine will continue to pose downside risks to confidence and may further curb consumer spending this year." Present SituationConsumers' appraisal of current business conditions was mixed in April. 20.8% of consumers said business conditions were "good," up from 19.6%. Conversely, 21.9% of consumers said business conditions were "bad," up from 21.4%. Consumers' assessment of the labor market was less upbeat. 55.2% of consumers said jobs were "plentiful," down from 56.7%. 10.6% of consumers said jobs are "hard to get," up from 9.6%. ...
2022-02-11 12:29:10 | retirement women workplace
... The survey found women are also interested in exploring solutions that can help them reach their goals. About half (48%) of female participants showed interest in in-plan guaranteed lifetime income. ...
2022-01-10 12:00:00 | consumers economy
... that paying off debt is a higher priority than exercising shows many people want to improve their financial health, and it’s clear that financial confidence is intrinsically linked to overall health and wellness,” says Personal Capital’s Chief Marketing Officer, James Burton. “Americans are seeking financial advice, and we don’t see this boom in financial planning changing anytime soon. In the past year, we’ve seen an 88% increase in net new client assets, excluding market gains, and we are fully prepared to meet the growing demand this year.” Source: Empower/Personal Capital...
2021-10-29 09:08:19 | demographics retirement
... ility to retire comfortably," Collinson said. The survey findings illustrate ways that women can take greater control over their finances and future retirement. Create a personal financial plan. Budgeting, prioritizing expenses, setting short- and long-term goals, and developing a retirement strategy are important steps in improving fiscal health. Fewer than one in four women (24 percent) have a written financial strategy for retirement. Be proactive about staying employable. When asked if they have taken any steps to ensure they will be able to continue working as long as they want and n...
2021-10-20 | housing
... es time and requires making early, consistent and informed decisions that set you up for success." Prospective homebuyers say saving for a home is a financial priority, but they face hurdles, much like the generations before them. Only 24% of prospective buyers are proud of their credit score and 89% say they know there's more they could do to save money. Overcoming barriers through planning and assistance "While homeownership may feel like a distant dream, knowing the stepping stones and solidly planting one foot in front of the next can put you closer to your goal," says Barkley. Bank o...
2021-10-12 12:00:00 | retirement
... ild their savings and grow more confident in their financial futures.” The recent Regions Next Step survey also suggests how often people set aside money may impact their confidence. Of those who are very or somewhat confident they are on track for reaching their retirement goals, 52% save for retirement in regular increments or time periods. In contrast, 23% of those who are only a little or not confident save regularly. In addition, 37% of those feeling only a little or not confident about their retirements report they are not currently saving at all. Respondents shared financial obl...
2021-10-11 12:00:00 | retirement
... In-plan guaranteed income solutions can help provide that, giving people the confidence that they will not outlive their retirement savings.” Source: Lincoln National...
2021-09-09 | retirement
... bout their retirement and the overall economy: Seventy-five percent (75%) say that, despite the pandemic, they are very or somewhat confident that they will have enough income to live comfortably throughout retirement. A majority say they are very or somewhat confident the overall economy will improve over the next year (57%), and that the pandemic hasn't changed their current or planned standard of living through retirement (58%). An even larger majority (63%) say their investment outlook has not changed since the beginning of the pandemic. Among their top financial goals over the cour...
2021-09-08 | consumers
... o get through an unexpected emergency (72%). However, this increase in confidence and optimism is also correlated to a general decline in good financial decision making and negative spending behaviors. The survey revealed slippage on a number of important financial dimensions: Financial Planning: While nearly three in four Americans (72%) still set financial goals, financial planning has hit a plateau. The most significant drop occurred among Gen Z (ages 18-24,) with those setting financial goals declining from 80% to 74% from January to now. Excessive Spending: Additionally, the surv...
2021-06-04 | demographics investing
... ame before swooping in on a new buying opportunity.” Source: E*TRADE...
2021-06-02 12:00:05 | consumers economy
... indexes, a reading above 50.0 signals optimism and below 50.0 indicates pessimism. The IBD/TIPP Economic Optimism Index has established a strong track record of foreshadowing the confidence indicators issued later each month by the University of Michigan and The Conference Board. For the June index, IBD/TIPP surveyed 1,305 adults from May 26 to May 28. The poll was conducted online using TechnoMetrica’s network of online panels to provide the sample. IBD/TIPP also surveyed respondents on key political issues for the separate Presidential Leadership Index and National Outlook Index ...
2021-05-27 | spending
... the COVID-19 vaccine. This compares to 24 percent that have not gotten the vaccine, but plan to when able and 29 percent that don’t plan to get vaccinated or are not sure. Source: First Insight...
2021-05-13 12:00:00 | economy demographics
... encouraging to see younger adults – especially in the last few months – setting and maintaining good financial habits that will set them up for success in the future." Source: BMO Harris Bank...
2021-05-12 12:20:00 | consumer spending
... 20. While the downturn this time was deeper, the recovery has been six months faster than the recession of 2008-2009. “The SMI’s latest strong reading provides evidence that consumer confidence is building as the pace of vaccinations increase and restrictions are eased across the country,” added Wayne Best. “Signs of economic recovery, additional stimulus payments and optimism that the pandemic is waning are contributing to stronger spending compared to last year and even within recent months." The gains in spending momentum, however, remain uneven. The SMI for cities that experi...
2021-05-10 14:00:00 | employment
... Statistics Employment Situation report. The technical notes to this series are available on The Conference Board website: http://www.conference-board.org/data/eti.cfm. Source: The Conference Board...
2021-05-10 12:00:00 | demographics travel spending
... as many as 62% have not yet made a booking -- and they are eager to spend more on travel than ever before. For brands, the opportunity is there to attract the purchasing power of this audience now." "The research highlights a positive outlook and several trends that look set to shape the U.S. travel market recovery. Cities are making a comeback as a top destination, and there is a clear desire among more affluent travelers for luxury experiences," said Liselotte de Maar, managing director, travel industry at Accenture. "The focus needs to be on targeting the early "in...
2021-05-04 | consumers
... month and predicts with good reliability monthly changes in sentiment in well-known polls by The Conference Board and the University of Michigan. The IBD/TIPP Economic Optimism Index is based on a survey of 1,200 adults conducted using a network of online panels. The national poll is generally conducted in the first week of the month. Source: IBD/TIPP...
2021-05-04 | charitable giving
... ic. Younger donors, though, showed more confidence. More than 40 percent of Millennials said they are very optimistic, compared to only 15 percent of Baby Boomers and 22 percent of Gen X. To read the full report, visit: The Future of Philanthropy Methodology: Artemis Strategy Group, an independent research firm, conducted a research study on behalf of Fidelity Charitable about donor motivations and behaviors. 3,055 adults in the U.S. who donated at least $1,000 to charity in 2019 were surveyed in March 2020. A follow-up January 2021 survey among 830 philanthropic individuals in the U.S. ...
2021-04-27 09:12:22 | consumers economy
... e Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was April 16. "Consumer confidence has rebounded sharply over the last two months and is now at its highest level since February 2020," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. "Consumers' assessment of current conditions improved significantly in April, suggesting the economic recovery strengthened further in early Q2. Consumers' optimism about the short-term outlook held steady this month. Consu...
... ...
2021-04-06 | housing
... s 3D home tours and interactive floor plans, has enabled movers to get an immersive experience of a home from hundreds or thousands of miles away, offering added confidence for buyers shopping remotely. The Sun Belt tops moving destinations Phoenix, Charlotte, N.C., and Austin, Texas, saw the highest net inbound moves in the first 11 months of 2020, as recent movers sought out relative affordability and warmer weather.4 Those Sun Belt metros are expected to continue to surge in 2021. Zillow's panel of experts predicted the Austin and Phoenix housing markets will outperform the national m...
2021-04-01 18:00:00 | financial planning demographics
... ...
2021-04-01 16:00:00 | demographics investing
... e likely to learn about investing in stocks (41% to 30%). "Teens have made it clear that they want better financial education," said Tim Sheehan, co-founder and CEO of Greenlight. "At Greenlight, we believe that every child should have the opportunity to become financially-smart. That's why we're focused on shining a light on the world of money with easy-to-use, accessible tools and educational resources that families can trust." Greenlight offers an all-in-one money management platform where kids and teens can explore lessons across the full financial spectrum — earning, saving, spendi...
2021-04-01 15:00:00 | retirement investing
... ement. 401(k) confidence The survey finds the majority of investors (83%) are confident that investing a portion of their paycheck into their employer 401(k) plan or other retirement savings account will help them build a nest egg. However, only a third of all investors (32%) report knowing exactly what investments their retirement plans contain, with women significantly less likely to know (23%) compared to men (39%). One-third of women (33%) also say they feel unprepared when it comes to selecting the investment options in their workplace retirement plan, with 1 in 10 (13%) say...
2021-03-31 15:00:00 | pandemic retirement
... roach to financial planning, professionals can help more Americans save and achieve the retirement they want." Source: Nationwide...
2021-03-31 14:00:00 | pandemic spending
... e pandemic. As 5G networks proliferate, the centrality of mobile will only become more entrenched, and must shape all business decisions in the post-pandemic economy. Source: The Conference Board...
2021-03-30 15:00:00 | consumers
... ase in the next six months, up modestly from 14.8 percent in February. However, 13.3 percent expect their incomes to decrease, up slightly from 12.9 percent last month. Source: The Conference Board...
2021-03-30 12:00:03 | financial literacy
... ...
2021-03-30 12:00:02 | economy demographics
... a household with stocks, bonds or mutual funds of $10,000 or more, either in an investment account or in a self-directed IRA or 401(k) retirement account. About two in five U.S. households have at least $10,000 in such investments. The sample consists of 58% nonretirees and 42% retirees. Of total respondents, 39% reported annual incomes of less than $90,000; 57% reported $90,000 or more. The median age of the nonretired investor is 47 and the retiree is 68. The Wells Fargo/Gallup Investor and Retirement Index is an enhanced version of Gallup’s Index of Investor Optimism, which provides the ...
2021-03-24 12:00:00 | pandemic retirement
... y 25% of respondents accurately indicated that financial professionals recommend having 10-12 times your last full year of working income by the time you reach retirement. Half of all respondents thought the figure would be only 5 times or less. How much to withdraw in retirement: 28% said that financial professionals would recommend a withdrawal rate of 10 to 15% of retirement savings every year, a withdrawal rate that would use up one’s retirement savings quickly. Withdrawing that amount would be far above Fidelity’s suggested rate of 4 to 6 percent annually. Market Returns: Al...
2021-03-24 12:00:00 | economy employment
... midsize businesses is due to a growing rate of COVID-19 vaccinations and the passage of the latest stimulus package, which will release pent up demand as restrictions lessen and consumer confidence grows. In stark contrast from last quarter, recent improvements in the national economy were reported by 40 percent of all CEOs, up from just 8 percent in Q4 2020, and fears of a worsening economy fell to just 34 percent from last quarter's 76 percent. When asked about prospects for the economy during the year ahead, 68 percent of CEOs expected the economy to continue to improve; a year ago only ...
2021-03-19 12:00:00 | consumers pandemic
... line jump to get the COVID-19 vaccine sooner if the opportunity presents itself to do so. 36% would take whichever vaccine was available. If given a choice, 28% would prefer the Johnson & Johnson 1 dose vaccine. 54% say they will still get tested for COVID-19 once vaccinated.Key Takeaways: 21% have or know someone who has received the COVID-19 vaccine and still got COVID-19. 36% would take whatever vaccine they could get if given a choice 28% would prefer the Johnson & Johnson 1 dose vaccine if given the choice 39% would line jump to get the COVID-19 vaccine sooner if they had the oppor...
... ally resilient during the pandemic. Despite significant economic hardships faced by many over the past year, Americans' are reporting overall increased financial confidence and awareness, with 53% of respondents saying they felt more financially confident approaching the end of 2020, and 48% saying they felt more financially aware as a result of challenges they faced during the pandemic. The increased reliance on digital banking tools helped many Americans maintain healthy financial habits to endure economic uncertainty. As of >June 2020, KeyBank's Digitally Active clients signed on (to ei...
2021-02-09 | investing
... as their top concern for the months ahead. Notably, however, focus on all three areas was lower in Q4 compared to Q2, in the early months of the COVID-19 crisis. Source: The Conference Board ...
2021-02-02 13:00:00 | pandemic retirement
... cans are staying optimistic about the future, with 75% of those who have had their job impacted in 2020 saying their financial confidence has not declined. In fact, 39% of respondents expect to bounce back from financial disruption within a year. When asked about financial fears as a couple, 19% say they do not have any fears – another sign that Americans seem to remain financially confident. Among other fears, 17% identified not being able to retire (significantly higher among baby boomers at 28%) and 11% were concerned about not being able to provide for their family. While many rema...
2021-02-02 | retirement
... g COVID-19 crisis. It is part of SimplyWise's ongoing efforts to help Americans maximize savings and benefits, particularly given COVID-closures of Social Security offices. Source: SimplyWise.com...
2021-01-26 14:00:00 | insurance
... from 54% in the 2019 report. But while consumers are more willing to share personal data, their concerns about intrusiveness and its impact on premiums have grown and their confidence in their insurers’ ability to look after their data has diminished. For instance, just under a third (32%) of consumers say they significantly trust insurers to look after their data, down from 40% in the 2019 report. “Consumers are embracing the data-for-personalized-pricing trend and want insurers to reward their efforts to improve their well-being, but it comes with a warning that trust is waning, an...
2021-01-13 | global confidence
... ...
2021-01-12 12:05:00 | women retirement
... od for men and women alike, further underscored by consumers’ lack of confidence: Only one in four women (14%) feel knowledgeable about retirement income planning. Four in ten women (43%) feel less comfortable with investment risk because of the COVID-19 crisis. Only 16% of women feel very knowledgeable about investment considerations for retirement planning, though self-reported knowledge seems to increase with age and assets. Even fewer – 14% of women – feel knowledgeable about strategies for sustaining income in retirement. Yet women demonstrate they are ready and...
2021-01-12 | consumer confidence
... er confidence each month and predicts with good reliability monthly changes in sentiment in well-known polls by The Conference Board and the University of Michigan. The IBD/TIPP Economic Optimism Index is based on a survey of 1,200 adults conducted using a network of online panels. The national poll is generally conducted in the first week of the month. Source: Investors Business Daily...
2021-01-11 18:00:00 | pandemic spending
... ivide. Among Millennials and Gen Z (those age 35 and under), 60% felt a greater sense of financial confidence. Meanwhile, among those age 50 and over, 51% did not feel greater confidence. Part of this could be attributed to growing financial awareness among Millennials and Gen Z as a result of the pandemic, with 31% saying they felt they had become significantly more financially aware in 2020, compared to just 22% of all respondents. With consumer spending habits changing because of the pandemic, financial "faux pas"—in other words, money missteps—are in decline, compared to last year. ...
2021-01-10 10:00:00 | transportation
... e pandemic, which is a decrease of five percentage points from the summer of 2020. Additionally, almost half (45%) of car shoppers are willing to purchase online and as confidence in online car purchasing increases, manufacturer websites are becoming more sophisticated to meet shoppers’ expectations. “The digital retail space continuously evolves but the pandemic forced many manufacturers to speed up the process,” said Jon Sundberg, senior manager of digital solutions at J.D. Power. “Websites are moving beyond the traditional research tools such as images and videos into a new world...
2021-01-08 12:00:00 | stock market investing
... 0 percent at the 95 percent confidence level. It was fielded and administered by Dynata. The panel is broken into thirds of active (trade more than once a week), swing (trade less than once a week but more than once a month), and passive (trade less than once a month). The panel is 60% male and 40% female, with an even distribution across online brokerages, geographic regions, and age bands. Source: E*TRADE...
2021-01-08 | housing
... s a result, the net share of those who say their household income is significantly higher than it was 12 months ago decreased 4 percentage points month over month. SOURCE Fannie Mae ...
2021-01-04 | pandemic retirement consumer confidence
... ly 1,200 U.S. residents (35% retirees and 65% workers) who have at least one financial product or service with Principal participated in the study during November 2020. Source: Principal Financial...
2020-12-30 | retirement workplace pandemic
... ult a financial professional for help regarding retirement savings, and relatively few – 21% – are utilizing the resources provided by their employer. Given the confidence gaps, plan sponsors and advisors may need to reconsider the educational tools and tactics used in order to better align with the needs of retirement plan investors," said Jon Barry, managing director, Investment Solutions Group at MFS. "A one-size-fits-all approach to educating participants around long-term investing and asset allocation does not work, and we believe greater partnership is needed between plan sponsors, a...
2020-12-22 | consumer confidence employment
... ber 2020 Consumer Confidence Survey® The Conference Board / Release #8001 ...
2020-10-06 | consumers pandemic
... t, 58% say they are financially preparing differently for the new year. Despite an unprecedented level of uncertainty, the study also reveals that in dealing with the crisis, Americans are expressing confidence in their abilities to take on the challenges ahead. The Fidelity study, which examines how Americans are handling major life events during the pandemic and subsequent economic downturn, found that living in a pandemic environment for nearly half a year has increased individual stress levels. Even in troubling times, there are some encouraging findings. A large majority (80%) of re...
2020-08-25 09:26:29 | women retirement
... io and those with defined benefit plan income were more likely to report high retirement confidence. For more information: https://www.gao.gov/assets/710/708121.pdf...
2020-08-24 | social security retirement
... rom the program in the past (16%). In fact, more than three quarters (76%) express concern that Social Security will not be there for them when they need it. While confidence in the program is similar between those ages 18-29 and 50-64, it drops precipitously during the 30s and 40s. In fact, only 3 percent of those ages 30-49 are very confident in Social Security’s future. AARP concludes that Americans recognize the value of Social Security to both themselves and their fellow Americans. Not only do they feel it is an important program, but they also believe that it is not doing enoug...
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