Getting ready to retire and managing income after retirement and managing income are among the top financial concerns of Americans, according to a new survey report.
The 2009 National Consumer Survey on Personal Finance conducted by the Certified Financial Planner Board of Standards Inc., Washington, found of more than 1,700 consumers surveyed, 51% said building a retirement fund was one of their most important financial concerns. Managing retirement income was cited by 40% as a top concern.
Other pressing issues were generating income (59%), providing health insurance coverage (55%) and managing or reducing current debt (53%).
Despite these concerns, 64% of households did not have a written financial plan, the CFP Board’s survey found. Just 17% said they had a written plan and update the plan regularly.