2024-04-09 23:15:00 | demographics retirement
... ignificant worry, a sentiment more pronounced among Black/African American (52%) and Asian/Asian American (51%) communities than among white (41%) and Hispanic (39%) respondents.Baby boomers are notably anxious about inflation's impact on their retirement funds, more so than millennials and Gen Xers. Following inflation, 24% of participants are concerned that Social Security won't provide enough financial support, and 22% are worried about the burden of high taxes. Particularly, Gen Xers fear that insufficient retirement savings will be a significant factor in potentially running out of funds....
2024-04-09 09:25:00 | cryptocurrency demographics real estate
... financial strategies is more pronounced among younger generations, with 8% of them turning to social media first for financial advice, compared to a mere 2% of Gen X and baby boomers.Myles Ma, a Certified Personal Finance Counselor at Policygenius, commented on the findings, noting that while younger generations are showing a willingness to take financial risks, perhaps driven by the current housing shortage and other market obstacles, traditional investment avenues might offer more stability in the long run. "Buying a house may be out of reach for many at the moment, but taking big financial...
2024-04-09 | consumers economy
... tions spend on services they seldom use (18%), a trend most pronounced among the younger demographics, with Gen Z (26%) and Millennials (27%) at the forefront (compared to 16% Gen X, 9% Baby Boomers)....
2024-04-05 | debt inflation retirement
... by taking on debt. The majority of Americans (51%) say they have taken on more debt because of inflation. More millennials (65%) than Gen Xers (49%) or boomers (31%) said this. And, more Hispanic (61%) and Black/African American (58%) respondents say they have taken on more debt because of inflation than Asian/Asian American (53%) or white (46%) respondents.“The rising cost of living is stretching American budgets,” said Kelly LaVigne, VP of Consumer Insights, Allianz Life. “Just because inflation has slowed doesn’t mean prices have gone down. In the short-term, it may be wise to delay...
2024-03-12 08:42:12 | retirement
... llowed as other close concerns. Among the just under one-fifth who claim to have retired – and then unretired – the reasons for going back to work were evenly divided between financial and mental....
2024-03-12 | healthcare
... ed workers in the long-term care space, as 10,000 Baby Boomers turn 65 every day until 20306 and seven out of ten of them are likely to need long-term care services and support at some point.” ...
2024-02-01 | consumers spending
... ne-fourth of couples say money is the biggest obstacle in their relationship, there is good news: over half of respondents feel very good or outstanding about their financial situation, and 27% of boomers say their love language is creating a financial plan together.The study by Fidelity, which has been going on since 2007, is special in that it polls each couple separately before compiling their responses to assess and determine what areas of communication and money management the couple is doing well and where more work needs to be done to move the relationship forward on their priorities, w...
2024-01-22 | consumers economy
... rtheless, 29% of Americans do not currently own a home and do not have any plans to do so in the upcoming year. Just one out of ten respondents said that owning a home is highly attainable. ...
2023-05-30 | demographics retirement
... , compared to 47% of Gen Xers and 43% boomers.Boomers recognize the financial challenges of the younger generations, with seven in ten believing the overall financial climate these days makes it much harder for younger adults to balance savings and spending compared to when they were young.Generation X Feeling the SqueezePlanning for the new retirement reality is particularly challenging to Generation X -- those born between 1964 and 1978. Unlike Millennials, who still have ample time to save before retirement, and Boomers, many of whom are already in retirement, Generation X is realizing that...
2022-08-09 12:10:00 | consumers economy
... renters, "relief from decreased gas costs and shop promotions encouraged consumers to continue to spend throughout July even though pockets are getting tighter." Source: Bank of America Institute...
2022-08-09 12:00:00 | economy inflation
... g uncertain times may make budgeting or investing easier when the economy improves. Now is the time to consult a financial advisor if you need help managing the uncertainty. Source: State Street ...
2022-08-05 12:00:10 | investing
... nd China, France, Germany, Hong Kong, Italy, Japan, Mexico, Singapore, Switzerland, UAE, UK and US. UBS surveyed 2,644 investors and 1,084 business owners from March 30-April 22, 2022. Source: UBS...
2022-07-28 | financial advice
... l ages genuinely need, want, and expect will be delivered to help guide them on their journey toward financial wellbeing - allowing them to attain their full financial potential." Source: Envestnet...
2022-07-27 12:00:10 | housing
... ncial journey. For a more in-depth look at the Home Equity Punch List, please visit http://exploreretirement.far.com/homeequitypunchlist to access additional data and insights from the survey. ...
2022-07-13 | demographics investing
... s having at least $1 million in investable assets, including 401(k). HENRY is defined as having $250K+ in household income, or between $100K-$999K in investable assets. Source: RBC Wealth Management...
2022-05-19 | retirement
... .5 million plan participants as of March 31, 2022. Considers average balance across all active plans for 5.6M unique individuals employed in tax-exempt market. Source: Fidelity Investments ...
2022-05-05 12:00:00 | consumers payments
... 18–24), millennials (25–40), Gen X (41–56), boomers (57–75) and seniors (76+). About Fiserv...
2022-05-04 12:00:01 | advice demographics
... of basic financial lessons, including the importance of having an emergency savings account (53%), keeping their spending in check (51%) and having a will and estate plan (38%). Source: Natixis ...
2022-04-25 14:00:00 | demographics financial planning retirement
... ng the way. Will your future-self resemble your current-self? To a degree, yes. But as life evolves, look to see if your plan for your money is working the way you need it to at least once a year. ...
2022-04-20 | inflation retirement
... up roughly one-third of the U.S. labor force,1 agree or strongly agree that, because of inflation, they will need to delay their planned retirement date. Meanwhile, just 55% of baby boomers and 62% of those in Generation Z agreed or strongly agreed that they are worried about the impact of inflation on their ability to save for retirement. “The results of our latest consumer survey are an important reminder for employers that all generations, particularly those balancing the impact of competing financial priorities today, are feeling the impact inflation has on their ability to save for ...
2021-12-21 09:22:18 | boomers technology
... t 30% of seniors use technology for personal hobbies, mainly through video content. Streaming content continues to grow, with most subscribing to an average of three platforms. Source: AARP ...
2021-12-06 09:22:18 | advice demographics
... rement plan and have no idea when they will be able to retire. Over half of Millennials (57%) considered starting a side gig to boost their contributions to their retirement savings. Source: NAPFA...
2021-12-03 12:00:00 | pandemic workplace
... lenges of the pandemic will likely slow the back-to-the-office movement. Future trends may be more evident in a few weeks after year-end bonuses are paid and 2022 pay increases are discussed. ...
2021-10-29 09:08:19 | demographics retirement
... address structural issues, bridge inequalities, ensure equal pay and benefits, and ultimately promote their retirement security," said Collinson. Source: Transamerica Center for Retirement Studies...
2021-10-21 12:00:10 | credit demographics
... t includes tech-driven, clear-termed financing like buy now, pay later, that eases debt fears and gives control over cash flow." Source: Alliance Data Systems Corporation...
2021-10-20 12:10:10 | demographics
... ancial Literacy Excellence Center (GFLEC) at the George Washington University (GW) School of Business. While financial literacy tends to be greatest among baby boomers and the Silent Generation, the average percentage of questions answered correctly is nonetheless only 55% among each. Among Gen X, Gen Y and Gen Z, the percentage of P-Fin Index questions answered correctly is 49%, 48% and 43%, respectively. While Gen Z has the lowest levels of financial literacy, trends across the financial wellness indicators show Gen X faces the greatest financial challenges. Twenty-eight percent of Gen...
2021-10-14 12:00:00 | banking demographics
... bile experience, which is where most younger consumers bank. Tools like live-chat combined with virtual assistants and automated chat can help them deliver this and compete with new tech and fintech entrants." "The way that we bank is changing quickly. The institutions that will be successful are the ones that are providing tools and services to educate their customer base and improve financial literacy, said Niamh Cunningham, COO at Rival Technologies. "If you're not talking to your customers about their financial health and future during the largest transfer of wealth in history, then ano...
2021-10-14 | retirement
... nancial assets. It does not include physical assets such as a home or a car. The data for this research is for households rather than individuals. Source: National Institute for Retirement Security...
2021-08-10 09:08:19 | workplace
... yees are the least interested in switching jobs out of all industries, as only 46% are interested in finding a new opportunity, compared to 66% total. Source: Personal Capital, an Empower Company...
2021-07-06 | workplace
... workplace. Stress/burnout is the top well-being concern among workers, particularly among women, millennials, and individual contributors. Worker level: Individual contributors: 61 percent. CEOs: 30 percent. Gender: Women: 62 percent. Men: 43 percent. Generation: Millennials: 70 percent. Gen X: 59 percent. Baby Boomers: 42 percent. "What's striking is that the same workers who question returning to the workplace given high productivity while working remotely have also expressed greater concerns about mental health, stress, and burnout," said Rebe...
2021-06-01 12:01:00 | retail spending
... rom 2,172 customers who purchased home improvement-related products from a home improvement retailer within the previous 12 months. The study was fielded in January-February 2021. Source: JD Power...
2021-05-24 09:26:29 | demographics wealth
... sors to be more responsive to the needs of our clients and support them in realizing the deeply meaningful goals they have for their families, businesses and communities.” Source: Boston Private...
2021-05-18 | consumers spending
... re strategic, long-term financial plan so they are able to weather a lot of different storms on their journey to retirement and then another 30-35 years after that." Source: COUNTRY Financial...
2021-05-12 12:00:05 | employment workplace
... enure, and those in government or education roles. Attitudes to job retention differ by age, with millennials twice as likely as baby boomers to quit. Despite the apparent willingness to move jobs for more flexible working arrangements, most employee respondents (76%) say they are satisfied with their jobs, and almost all (93%) say they plan to stay in their current roles for the following 12 months. Liz Fealy, EY Global People Advisory Services Deputy Leader and EY Global Workforce Advisory and Solutions Leader, says: "Employees' willingness to change jobs in the current economic envi...
2021-05-11 | employment workplace
... rategies varied somewhat by age group: baby boomers were more likely to keep in touch with others, while millennials were more likely to turn to social media or a new hobby. The survey also found a correlation between employer-provided resources and workers’ mental health. Thirty percent of respondents who believe their employer has provided ample mental health resources also reported that their ability to manage stress improved during the pandemic, and one-third (33%) noted that loyalty to their employer increased. Meanwhile, 42% of workers who feel their employer has not provided enough...
2021-05-04 | charitable giving
... survey among 830 philanthropic individuals in the U.S. who donated at least $1,000 to charity in 2020 detected shifts in donor thinking due to the events of that year. Source: Fidelity Charitable...
2021-04-29 12:00:00 | consumers
... 34% of the general population prefer a digital tool that helps them budget or automatically save, consistent with a third who prefer expert advice or interaction with a banker. Source: Chase...
2021-04-28 12:25:14 | affluent economy
... their financial advisor by the age of 25. Additional details from the report can be found here: https://spectrem.com/Content_Product/25-million-plus-investors-2020.aspx Source: Spectrem Group...
2021-04-19 12:00:10 | millennials retirement
... ber-one benefit. Meanwhile, Gen-Xers (20%) and Boomers (26%) with an advisor agreed that protecting assets against market risk was the number-one benefit. Source: Nationwide Retirement Institute® ...
2021-04-19 12:00:05 | pandemic workplace
... APAC also are well represented in desired cities, with New York City (20 percent) and Tokyo (17 percent) ranking in respondents’ top-three desired destinations. Source: Graebel Companies Inc....
2021-04-19 12:00:00 | demographics media
... sts. Forty-three percent of consumers (39% of Generation Z and 54% of Millennials) say they would associate content that included hate speech with ads that are displayed nearby. Source: Deloitte...
2021-04-15 12:10:00 | investing
... ed on responses from 4,392 investors who make some or all of their investment decisions with a financial advisor. The study was fielded from December 2020 through February 2021. Source: J.D. Power...
2021-04-15 12:00:05 | banking
... . However, these numbers decrease for all generations when asked if they plan to give their future loan or investment business to their current primary financial services organization. Source: BAI...
2021-04-14 12:00:01 | demographics investing
... assets, grew in influence with a rising share of households and Assets Under Management (AUM). During the study period, the Mass Market grew from 30% to 38% of households with Mass Affluent ($100K to ...
2021-04-13 | pandemic investing
... ers). Further, more than half (59%) have also either stopped or reduced saving for retirement (compared with 41% of Gen Xers and 32% of baby boomers). Source: Allianz Life...
2021-04-12 14:00:00 | workplace employment
... on how people think and feel will be empowered to make the right decisions, at the right time, in the right way, and as a result will deliver differentiated experiences." Source: Qualtrics...
2021-04-08 14:00:00 | retail travel
... mer-behavior. The IBV continues conducting research to regularly draw insights on consumer behavior since April 2020, about how COVID-19 has impacted their outlook and preferences. Source: IBM...
2021-04-08 12:00:59 | investing
... rm risk takers – they want to make informed decisions backed by education and professional guidance, which will be important as they navigate different life events.” Source: Charles Schwab ...
2021-04-08 12:00:00 | small business
... een better since the pandemic unfolded," says Hunter Stokes, president of FranchiseVentures. "The next several months should show a wave of startups based on this data." Source: FranchiseInsights.com...
... s and their children) are more likely to undertake 2021 projects than homeowners without children (44% of each vs. 34%), particularly to improve at-home working and learning spaces. Source: Truist...
2021-04-01 15:00:00 | retirement investing
... s (32%), and a quarter of baby boomers (24%) who are much closer to retirement. 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 inve...
2021-03-31 15:00:01 | pandemic workplace
... cent of twenty-something workers said they took more paid time off this year, mostly for sick days for physical and mental health, while only 8 percent of boomers said the same, citing travel restrictions and too much work as top reasons for not doing so. “Employers and managers have a critical role to play in supporting employee well-being,” said Katz. “Providing flexibility, addressing workload concerns, and promoting taking time off can make a difference for employees’ overall health.” Benefits should address varied needs, improve employee resilience Offering benefits tha...
2021-03-31 15:00:00 | pandemic retirement
... mic, compared to 12% of boomers. However, the challenge is more than half of Americans (57%) rarely consider the taxes they will pay or are paying in retirement and 31% aren't receiving the tax advice they need for retirement. There is an immediate opportunity for financial professionals to address this need, with half (50%) of Americans reporting they'd switch financial professionals for someone who could help them plan for taxes in retirement. More specifically, Americans would like advice on how to receive a tax benefit from itemizing (46%) and how to adjust investments in case of potent...
2021-03-30 14:00:02 | retirement
... s, which will give them the protection and security they need and want." While 65 has long-been considered retirement age, most Americans begin retiring sooner. As the number of people approaching Peak 65 grows, the reality is that the country is already experiencing a retirement boom. COVID-19 REFRAMES PEAK 65 The call for action is only strengthened by the troubling notion that economic insecurity is also on the rise. The COVID-19 pandemic has resulted in an estimated 4,000,000 workers prematurely retiring, according to Fichtner's analysis. Further, according to Alliance research, nearly h...
2021-03-30 12:09:00 | housing
... e amount of money or assets they have saved to fund their retirement — significantly higher than homeowners pre-pandemic who were confident in their retirement savings (51%). Source: Unison...
2021-03-25 09:08:19 | pandemic saving
... ssessing your financial plans and preparedness against changing circumstances, are key to both navigating current challenges and building financial security for a lifetime.” Source: MassMutual...
2021-03-25 | pandemic insurance
... to survey adult consumers who are financial decision makers in their households. The survey generated over 3,000 responses. The results were weighted to represent the U.S. population. Source: LIMRA...
2021-03-24 12:00:00 | pandemic retirement
... ot affiliated with Fidelity Investments. The results of this survey may not be representative of all adults meeting the same criteria as those surveyed for this study. Source: Fidelity Investments...
2021-03-24 09:43:31 | pandemic housing
... ed that more people are becoming proactive in taking care of their homes. This increase in time at home is leading to a larger amount of home improvements, and at Hippo, we’re always underscoring the importance of maintaining your home while ensuring that homeowners are getting the best possible protection when home upgrades are made.” Hippo is playing an active role in helping homeowners maintain their homes. Hippo customers have access to Hippo Home Care, a virtual home concierge service that provides proactive home care and maintenance services. Homeowners can receive annual remote h...
2021-03-12 14:00:04 | demographics health
... ddress mental health and substance abuse issues, and regularly communicating those benefits are ways employers can create supportive workplaces that promote behavioral health. Source: The Standard...
2021-03-12 14:00:00 | technology
... fair to the streaming company to use someone else's account without paying for your own. Baby boomers (66%) were much more likely to agree with that statement. Still, 51% of those who have a streaming service account admit they let others use it, too. Netflix is once again the most popular shared service, as 72% let someone use their account. Some may share streaming accounts to trim their costs, as a quarter of streamers fork over more than $50 per month. For parents with kids under 18, that percentage rises to 34%. On average, consumers have three different accounts. Streamers are mis...
2021-03-12 | technology
... sumers take too many chances with their accounts. Employers need more security training on the basics of password choice and the technologies available to protect accounts better. SOURCE ScoreSense...
... l international e-commerce experience. Some 29% of boomers said a clear refund policy was important when shopping online from international merchants, versus 24% of those in the Gen Z and millennial group. Source: eShopWorld...
2021-02-02 13:00:00 | pandemic retirement
... main 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 remain confident in their financial situations, it's likely because they acted quickly to curb spending. More than half of American couples across generations admit to having quickly adjusted their budgets and spending habits to offset the impact of the pandemic, with 58% reducing spend on nonessential items, 43% cancelling travel plans and 36% delaying larger purchases. Unl...
2021-01-25 12:00:30 | pandemic investing
... h a financial advisor, developing a financial strategy, and adjusting that strategy as situations arise are helpful strategies to increase financial resilience and stability." Source: Edward Jones...
2021-01-25 12:00:00 | workplace demographics employment
... cluding insight on employee mental health and sentiment on returning to the office. To learn more, download the eBook at https://www.nintex.com/nintexworkplacestudy2021_ebook_0121/. Source: Nintex...
2021-01-01 | pandemic millennials
... t year. This outlook is more common among older generations (42% and 43% of Gen-X and Boomers, vs. 25% of Gen-Z and 34% of Millennials) and women (42% vs. 34% of men). Source: Fidelity Investments...
2020-12-26 | retirement pandemic
... iversified strategy with both insurance and investments can allow people to make informed choices regarding a retirement that suits their unique circumstances." Source: news.northwesternmutual.com...
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