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

How AI search aided scam from phony NFL player, fake financial advisor
How AI search aided scam from phony NFL player, fake financial advisor

Daejon Love and Taylor Chan's $1.3 million romance fraud scheme exposes how AI search engines can be manipulated by fabricated online identities

Schwab ordered to pay clients $1.34 million in crypto dispute involving elderly client
Schwab ordered to pay clients $1.34 million in crypto dispute involving elderly client

“It was a third party scam,” said the attorney representing the claimants.

RIA moves: Mercer adds to Atlanta presence with veteran advisor from Northern Trust
RIA moves: Mercer adds to Atlanta presence with veteran advisor from Northern Trust

Meanwhile, &Partners draws another Commonwealth practice, and Wealthcare welcomes a $550 million planning practice in the Northeast.

CogniCor adds wealthtech veterans to board in renewed RIA push
CogniCor adds wealthtech veterans to board in renewed RIA push

Palo Alto AI platform recruits RIA and fintech leaders as industry data show AI adoption reshaping advisor staffing.

Advisor moves: Merrill draws $1.2 billion UBS team in New Mexico
Advisor moves: Merrill draws $1.2 billion UBS team in New Mexico

Meanwhile, Raymond James, Wedbush, and LPL recruited veteran advisors from across Texas, North Carolina, and California.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income