Wed, 27 July 2022 | financial planning
According to the Northwestern Mutual 2022 Planning & Progress Study, more than 62% of Americans (62%) believe their financial planning is in need of improvement. However, only 35% of Americans seek out financial advice.
Data also showed a trend that shows a large number of people recognize the importance of seeking help in the near future. This is a trend that has been evident for the past two years. Nearly one-fifth (18%) of Americans say that they did not have an advisor prior to the COVID-19 pandemic. However, they have either started working with someone or are planning ... Read More
Wed, 27 July 2022 | consumers economy
Prudential Financial, 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:
Thu, 14 July 2022 | consumers economy
A new survey from Primerica, a leading financial services company, found middle-income households taking proactive steps to secure their finances as they brace for a possible recession. About three-quarters (77%) believe the country will be in that situation by the end of the year, and most Americans are preparing by cutting back on spending, delaying major purchases, or planning to work longer before retirement.
“Middle-income families are taking a hard look at their finances right now. Rising costs continue to eat into their bottom line amid fresh concerns of a recession,”... Read More
Thu, 14 July 2022 | economy housing
Single-family home prices increased at the annualized rate of 19.4 percent in Q2 2022, down slightly from the previous quarter's upwardly revised 20.5 percent, according to Fannie Mae's latest Home Price Index (FNM-HPI) reading, a national, repeat-transaction home price index measuring the average, quarterly price change for all single-family properties in the United States, excluding condos. On a quarterly basis, home prices rose a seasonally adjusted 4.3 percent in Q2 2022.
"Home prices maintained a near-historic pace of appreciation in the second quarter, as low levels of hou... Read More
Wed, 13 July 2022 | demographics investing
Millennials, often misrepresented as indulgent and financially unprepared, contradict those stereotypes according to insights from a recent RBC Wealth Management – U.S. survey. The survey of 1,000 high-net-worth (HNW) Millennials found that 84% think frequently about their financial security, but many are unsure of what they need to do to attain it.
Millennials recently surpassed Baby Boomers as the nation's largest living adult population, according to U.S. Census Bureau data, with the oldest now age 41. They've also grown their wealth from $4 trillion in 2019 to $9 trillion at... Read More
Wed, 01 June 2022 | demographics retirement
While three-quarters or more of those 60 and over have at least one serious health condition, nearly half rate their health as very good or excellent, according to new research from AARP in collaboration with National Geographic Partners. The Second Half of Life Research found that Americans are more likely to take steps to address their health as they get older, including actions like getting health screenings, eating more produce and monitoring their sugar intake. And having more healthy years matters more than simply living longer – most respondents were interested in a hypothetical pi... Read More
News and insights about consumer and demographic financial trends
The Hidden Cost of Idle Cash: What the Vanguard Survey Reveals About America’s Savings Habits
Consumers Growing Cautious Amid Rising Inflation and Economic Uncertainty
US Taxpayers Say Tax Refunds are a Financial Necessity
Consumer Pessimism Grows Despite Stable Long-Term Inflation Expectations
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