Survey: Half of Low-Income Households Feel Financially Prepared

Only half of individuals living in households that earn less than $50,000 per year say they feel financially prepared for the future.

The Certified Financial Planner Board of Standards Inc., Washington, has published that finding in a summary of results from a recent telephone survey of 1,002 U.S. residents ages 18 years and older.

The percentage of participants who said they feel financially prepared was 75% for those with annual household incomes of $50,000 to $100,000 and 83% for those with annual household incomes over $100,000.

Having a financial advisor increased the likelihood that a participant would feel financially prepared by 18 percentage points.