Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.
Americans Feel Less Financially Secure Than in '08
Only 10% of consumers reported feeling more financially secure, while 45% reported feeling about the same.
In addition, the survey found 28% of respondents are concerned about the cost of health care, and 21% are concerned about the security of their retirement accounts. To address their concerns, 30% have changed living arrangements in order to save money, 24% are doing jobs now that they would not have chosen in a better economy, and 24% have decided to postpone retirement.
A Citibank news release said the top factor cited for financial security today is staying healthy (45%), followed closely by having a secure job (41%). Slightly more than three in ten Americans (32%) cited avoiding debt, but other factors such as having an emergency fund (17%), owning your own home (16%), and having a college degree (15%) were noted.
When it comes to staying financially secure in today’s economy, nearly a third of Americans (32%) believe that being their own boss is best. Working for a large corporation (24%) and the federal government (21%) are also viewed as safer employment options than working for a small business (17%) or for a state or local government (15%).
In Citibank’s quarterly surveys, the percentage of consumers who believe things are forever changed has steadily increased from 51% in September 2010 to 52% in January 2011, 54% in April 2011, and 57% today.You Might Also Like:
![](https://si-interactive.s3.amazonaws.com/prod/planadviser-com/wp-content/uploads/2024/06/24092449/PA-062424-DC-Investment-Focus-Areas-1500874990-web-432x243.jpg)
Capital Group Names Top Focus Areas for DC Investment Consultants
![Art by Kiki Ljung](https://si-interactive.s3.amazonaws.com/prod/planadviser-com/wp-content/uploads/2024/04/02135909/PAQ2_24-ID2_Participants-Referrals-Kiki-Ljung-web-1-432x243.png)
Financial Wellness Moves From “Nice to Have” to Table Stakes
![](https://si-interactive.s3.amazonaws.com/prod/planadviser-com/wp-content/uploads/2024/03/27160637/PAPS-032724-Ascensus-Buys-Recordkeeper-1140703102-web-432x243.jpg)