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Financial Planning > College Planning

Country Financial Security Index Falls

By Trevor Thomas

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The Financial Security Index published by Country Financial fell in February to 63.1, from 65.8 in February 2009.

The decline followed the biggest single drop in the bimonthly measure ever recorded by Country, Bloomington, Ill. In December 2009, the index had stood at 66.3.

The decline shows Americans remain unsure about their financial security, says Country.

Since December 2009, Americans rating their overall level of financial security as excellent or good sunk 5 points, from 40% to 35%, while the number who said they were able to set aside money for savings or investments fell from 46% to 43%, according to researchers at Country, Bloomington, Ill,

Other findings:

–The number of Americans confident they would have enough money to enjoy a comfortable retirement fell from 59% to just 53% since last year. Among those aged 50-64 years, 56% of those were confident they could retire comfortably, down from 59% in February 2009.

–Fewer Americans with children felt certain they could sent their kids to college, with 56% saying they were very or somewhat confident they could do so, down from 60% last year.

–The number of respondents who felt confident they could pay all debts as they come due fell slightly to 76%, from 77% a year earlier.

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