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Index: Consumer Confidence Wavering

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NU Online News Service, Nov. 15, 11:22 a.m. – The recently released The Principal Financial Well-Being Index suggests that following the terrorist attacks of Sept. 11, American workers are showing signs of wavering confidence in their financial well-being and attitudes on retirement investing and employee benefits.

At the same time, the latest quarterly installment of the index, a national survey of more than 1,500 employees of growing U.S. businesses, reveals measures of resolve and patience by Americans in reaction to the volatile stock market, along with hints of optimism.

According to the index, conducted in October by Harris Interactive, Rochester, N.Y., and commissioned by the Principal Financial Group, Des Moines, Iowa, when asked how the terrorist attacks and market downturn have affected their long-term retirement investment strategies, nearly half of the American workers (45%) responded that they have reviewed or plan to review their strategies in direct response to the events.

Of the 28% of respondents who had already reviewed their strategies following Sept. 11, 27% are saving more money than they were prior to the 11th. The majority (70%) did not change the amount they were saving, and only a small number (three percent) are saving less.