Nervous Americans put lives on hold

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.