What Adults Don't Do With Money —
You Aren’t Alone
Do you worry about money? Having enough? Saving enough? Investing it wisely? When you think about retirement, do you feel confident or anxious? Do you wonder if other people feel the same way?
When asked “What keeps you up at night?” 60% of participants in a recent Northwestern Mutual survey said “having enough retirement income.” Now compare that statement to what people actually do about it. The findings from the research show a conflict between worries and actions.
About planning for the future
Only 50% of this group said they contributed to an IRA, stocks, or a mutual fund outside their employer’s benefit plan. What’s going on here? If people are worried about retirement, why aren’t they doing something about it? Some reasons:
We fare no better when it comes to saving. The survey found that –
Impact on families
These findings are dangerous for families. If parents are not modeling good financial behavior, their children will imitate these spending habits. The more educated we become, the better we can teach our children. They are the heirs of our financial behavior – good or bad. Looking for ways to get a better handle on your money? Here are steps you can take right now.