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Steady decline in financial security confidence; retirement views stay positive

By Staff Writer

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It’s the bad news we don’t like to report, but can’t ignore: Americans continually show little confidence in their financial security. Still, although the country is showing a steady six-month decline in confidence, according to the latest Country Financial Security Index, sentiments about retirement remain stable; Fifty-nine percent say they are confident they will have a comfortable retirement.

Other findings include:

Men’s Confidence in Finances Plummet

  • Over the past six-months men’s confidence in their financial security has sharply declined. However, overall they remain more positive than their female counterparts.
  • Since August, the number of men rating their overall financial situation as excellent or good dropped 13 points, compared to a six-point decline among women.
  • Just six months ago, 60 percent of men and 50 percent of women said they were able to set aside money for savings or investments in the past two months. Now only 46 percent of men and women are setting aside money for the future.

College Funding Concerns Spike to Record High

  • Thirty-nine percent of Americans are not confident they will have the resources to send their children to college, compared to 30 percent six months ago and the most ever since the Country Index began in February 2007.