If you thought discipline to follow through on long-term goals seems to be lacking in today’s society, it seems you’re correct. According to a new study released by Northwestern Mutual on Monday, Americans were feeling the strain of keeping up with all the distractions of a fast-paced life, and it showed in their ability to work toward objectives.
The “Stick With It” study revealed that 74% of Americans are having a tough time keeping their feet on the path to eventual rewards, be they financial objectives, family-oriented targets, professional ambitions, or health goals. Another interesting aspect of the study shows that when it comes to goal-setting, Americans set more financial goals than other types of goals, with 72% focusing on some distant ambition. Families came in second, with 62% setting goals that centered on loved ones. Fitness (57%), work (55%) and diet (54%) rounded out the big five.
In a key finding for advisors, although people set more financial goals, they follow through less in that category than the others mentioned. Only 55% said financial objectives inspired them the best to stay on target, and 47% said financial goals were the ones they needed the most help with.