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
Mon, 23 May 2022 | consumers
The Federal Reserve Board on Monday issued its Economic Well-Being of U.S. Households in 2021 report, which examines the financial lives of U.S. adults and their families. The report draws from the Board's ninth annual Survey of Household Economics and Decisionmaking, or SHED, which was conducted in October and November of last year before the increase in COVID-19 cases from the Omicron variant and other changes to the economic landscape in recent months. The report indicates that self-reported financial well-being reached its highest level since the SHED began in 2013. In the fourth quart... Read More
Thu, 19 May 2022 | retirement
The latest New York Life Wealth Watch survey revealed that while inflation is impacting short-term financial decisions, Americans report that their retirement strategies remain largely intact. In fact, 65% of adults report that as a result of inflation, they are cutting back on short-term spending to stay on track with their long-term financial goals. One-in-four respondents report that their long-term financial strategy has not been impacted due to inflation and 72% of respondents still expect to retire at their desired age.
“Inflation risk is one of the ‘big... Read More
Thu, 19 May 2022 | retirement
Fidelity Investments reported that retirement savers at the company are continuing contributions to 401(k) accounts despite volatile market conditions. The quarterly analysis found that while average account balances decreased (driven largely by the stock market's performance), the total 401(k) savings rate reached record levels, the number of IRAs on Fidelity's platform increased and the percentage of employees with a 401(k) loan dropped for the fourth consecutive quarter.
“During periods of economic uncertainty, it's important for retirement savers to stay focused ... Read More
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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