Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.
Data & Research January 24, 2012
Saving More a Top Priority for Americans in 2012
Cutting debt and saving more are top priorities for
Americans in 2012.
Reported by Rebecca Moore
Fifty-seven percent of Americans say they plan to reduce their debt in 2012 and 50% plan to save more, according to the New York Life Kitchen Table Pulse survey.
The survey revealed Americans’ continued concerns around their financial future. In the year ahead, only 30% agree their family will be more financially secure and better prepared for the unexpected, and just 24% believe they will be in better financial shape for retirement. Despite these concerns, only 14% of Americans report they plan to seek professional help managing their finances in 2012.
“Studies have shown that people who engage with a professional financial representative feel better about their financial strategies and future,” notes Mark Pfaff, executive vice president at New York Life.
Other findings from the survey include:
- Those most likely to say they will reduce their debt in 2012 are ages 45 to 59 (65%), men (61%), married adults (61%) and full-time workers (60%).
- Adults ages 30 to 59 are more likely planning to save more next year than are those who are older (55% vs. 37%).
Ipsos conducted the poll for New York Life November 10 to 14, 2011, among a national sample of 1,011 adults ages 30 and older from Ipsos’ U.S. online panel.