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Poll finds financial stability is Americans’ top goal
Survey finds ’maintaining‘ is good enough in uncertain financial environment
| MINNEAPOLIS (May 26, 2010) – Today, “getting ahead” just isn’t as sexy as “staying even,” according to a recent Thrivent Financial/Kiplinger Survey of Family Finances. The poll found that three in five Americans (59 percent) named maintaining financial stability as their top financial goal.
The desire for financial stability has increased dramatically over the past two turbulent years. Just two in five respondents (41 percent) said maintaining financial stability was their top goal two years ago. “The clear message from this survey is at least over the short-term, people have changed their financial expectations,” said Patrick Egan, Thrivent Financial director, Asset Management, for Thrivent Financial. Women were slightly more likely than men to say maintaining financial stability was most important, 61 percent vs. 56 percent. The survey found that the desire to maintain stability increased steadily with age. Fifty percent of young adults ages 18-24 stated maintaining financial stability was their top goal. This compared to 53 percent of those ages 25-34, 56 percent of those ages 35-44, 60 percent of those ages 45-54 and 63 percent of those ages 55-64. Sixty-nine percent of seniors, ages 65+, named financial stability as their top financial priority. Show me the money Not everyone was content to maintain the financial status quo. Younger adults—the group likely to have fewer assets—were apt to say their top financial goal was to increase their assets and wealth. Three in 10 adults ages 18-24 and one in three adults ages 25-34 said their top goal was to grow their money. This compared to 22 percent of those ages 35-44 and 45-54, 18 percent of those ages 55-64, and 13 percent of those ages 65 or more. The survey also found that the more income respondents had, the more likely they were to desire to increase their money. Eighteen percent of those having an income of less than $25,000 said that increasing assets/wealth was their top financial goal compared to 28 percent of those earning $75,000 or more. Those ages 45-54 (14 percent) and those making less than $25,000 (14 percent) were most likely to say protection against loss was their financial priority. “The foundation of all financial management is having clear goals and an action plan identifying the specific steps necessary to reach them,” says Egan. “Whether a person’s primary financial goal is protection, maintenance or growth, products and services exist to help people make the most of their money.” Related Information More information from the Thrivent Financial/Kiplinger Survey of Family Finances is available in the June 2010 issue of Kiplinger’s Personal Finance magazine as well as online at kiplinger.com/links/moneysurvey and thrivent.com/moneysurvey. About the Thrivent Financial/Kiplinger Survey of Family Finances The Thrivent Financial/Kiplinger Survey of Family Finances was conducted by Synovate, a global market intelligence firm. The national online survey was conducted between March 3-5, 2010, among a nationwide sample of 1,000 U.S. adults aged 18 and older. The margin of error for questions posed to all 1,000 respondents is +/- 3 percent. About Kiplinger’s Personal Finance Kiplinger’s Personal Finance magazine has been providing millions of Americans with down-to-earth advice on managing their money and achieving financial security since 1947. Along with Kiplinger.com, it is a highly trustworthy source of information on saving and investing, taxes, credit, homeownership, paying for college, retirement planning, car buying, and many other personal-finance topics. Join Kiplinger on Facebook and follow Kiplinger on Twitter. About Thrivent Financial for Lutherans Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.6 million members achieve financial security and give back to their communities. Thrivent Financial and its affiliates offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. As a not-for-profit organization, Thrivent Financial creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need. For more information, visit Thrivent.com. Also, you can find us on Facebook and Twitter. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, 800-847-4836, a FINRA and SIPC member and a wholly owned subsidiary of Thrivent Financial for Lutherans. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents of Thrivent Financial. Bank products and trust services are offered through Thrivent Financial Bank®, (Member FDIC, Equal Housing Lender), a wholly owned subsidiary of Thrivent Financial for Lutherans. Insurance, securities, investment advisory services, and trust and investment management accounts are not deposits, are not guaranteed by Thrivent Financial Bank, are not insured by the FDIC or any other federal government agency, and may go down in value. For additional important disclosure information, please visit Thrivent.com/disclosures. -END- 201001850 |
| Contact Information: | |||
| Brett Weinberg Director, Public Relations brett.weinberg@thrivent.com Phone: (612) 844-4272 | Dave Rustad, APR Senior Media Relations Specialist dave.rustad@thrivent.com Phone: (612) 844-7037 | ||
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