Wed, 31 March 2021 | pandemic investing
The COVID-19 pandemic has reshaped the ways in which many investors are spending and saving their money – and they expect they’ll carry their newfound priorities into the future, according to new research released today from Ameriprise Financial (NYSE: AMP). The Financial Priorities study surveyed more than 3,000 Americans with at least $100,000 in investable assets to understand what they care most about when it comes to their money, and how their priorities have changed amid the challenges of the last year.
A majority of respondents (63%) said their household income was not ... Read More
Wed, 31 March 2021 | pandemic workplace
One year after the COVID-19 pandemic forced many U.S. employees across the country to transition to remote work, the youngest and oldest generations are divided on its impact. MetLife’s 19th annual U.S. Employee Benefit Trends Study finds more than half of workers in their 20s (51 percent), including Gen Z and young millennials, say their work-life balance is better now than before the pandemic, while only one-quarter of baby boomers say the same.
While employees across generations feel their holistic well-being – which includes physical, mental, social and financial healt... Read More
Wed, 31 March 2021 | pandemic retirement
The COVID-19 pandemic has shaken many U.S. adults' confidence in retiring comfortably or on time, with one-in-five (19%) reporting it has forced them to delay their retirement or no longer retire at all, according to the new 2021 Tax-Efficient Retirement Income survey.
Conducted by The Harris Poll on behalf of The Nationwide Retirement Institute®, the study also found one-fourth (27%) of Americans have saved less or stopped saving for retirement because they lost their job or for other reasons. In result, almost two-in-five Americans (37%) have or are likely to withdraw money fr... Read More
Wed, 31 March 2021 | pandemic spending
With the end of the pandemic finally in sight, one of its lasting legacies may be pulling American consumers toward new and seemingly contradictory directions of behavior.
A new report from The Conference Board, Consumer Behaviors and Business Opportunities in the COVID-19 Era, maps the convergence—and divergence—of three key trends. First, a year of shutdowns and job losses has sparked a renewed focus on frugality, with many consumers switching to value-priced products, services, and brands. Yet even as this economic anxiety fueled vices like drinking, gambling, and ove... Read More
Wed, 31 March 2021 | pandemic spending
A new Debt.com survey finds that one-third of respondents are crystal clear about their credit card intentions: "As soon as the pandemic ends, we'll run up bills at restaurants and retailers."
While that might be depressingly predictable to many financial experts, there was a big surprise: Even more people won't do that.
Of the 1,000 respondents, 42 percent agreed with this statement: "I believe we've learned how much interest and fees cost. We'll permanently cut back."
Even higher numbers displayed advanced knowledge of credit card usage that didn't seem to exis... Read More
Wed, 31 March 2021 | workplace
An expectation on the part of workers that they will be allowed to work remotely more often will be one of the legacies of the pandemic, according to a new study by Boston Consulting Group (BCG) and The Network. Eighty-nine percent of people said their preference in the future will be for a job that allows them to ... Read More
News and insights about consumer and demographic financial trends
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Economic Uncertainty and Inflation Impact Retirement Prospects for Americans
AARP Survey Reveals Alarming Retirement Savings Trends
Hispanic Consumers More Optimistic About Finances
Homeowners Facing Increasing Insurance Rates
U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation