Nervous Americans put lives on hold

Four in 10 American adults are holding off on major life decisions because they are worried about the economy.
APR 07, 2008
Four in 10 American adults were holding off on major life decisions because they were worried about the economy, according to a poll released today. Forty-one percent of adults had delayed making major life decisions such as home ownership, marriage, having children and retirement because they were financially strapped or nervous about the economy. The poll, conducted by Interactive Inc. of Rochester, N.Y., showed an 11-percentage-point increase from a year ago, when 30% of U.S. adults said they had delayed life decisions for the same reasons. Of the 41% of the respondents who said they were postponing major decisions, 28% cited a lack of savings, while 18% pointed to concerns about the country’s economic state. General anxiety over the economy was also high, with 54% of the survey sample expressing a pessimistic outlook for the next year. “It’s alarming that so many more people are choosing not to get married, buy a home or further their education because they don’t have the money,” Carl George, chairperson of The American Institute of Certified Public Accountants’ National CPA Financial Literacy Commission, said in a statement. “We know people are having a hard time making ends meet, which can affect life goals. It’s important that they try to save, even if it’s only a small amount each week.” The study was conducted by telephone within the United States by between March 5 and March 9 among 1,026 Americans over 18. The analysis was conducted on behalf of the New York-based AICPA.

Latest News

SEC to lose Hester Peirce, deepening a commissioner crisis
SEC to lose Hester Peirce, deepening a commissioner crisis

The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.

Florida B-D, RIA owner pitches bold long-term plan to sell to advisors
Florida B-D, RIA owner pitches bold long-term plan to sell to advisors

IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.

Fintech bytes: Vanilla, Wealth.com forge new estate planning partnerships
Fintech bytes: Vanilla, Wealth.com forge new estate planning partnerships

Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.

Fiduciary failure: Ex-advisor who sold practice fined after clients lost millions
Fiduciary failure: Ex-advisor who sold practice fined after clients lost millions

A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.

Why the evolution of ETFs is changing the due diligence equation
Why the evolution of ETFs is changing the due diligence equation

As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.

SPONSORED Are hedge funds the missing ingredient?

Wellington explores how multi strategy hedge funds may enhance diversification

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management