Allianz Survey: Americans Still Unlikely to Address Financial Planning in 2012

Moreover, when asked to rank five life focus areas —“health/wellness,” “financial stability,” “employment,” “education” and “leisure” — 45 percent of Americans said that “health/wellness” was their most important focus area for 2012. “Financial stability” trailed with 30 percent.

Unemployment Worries

In a list of five economic events —“unemployment,” the “U.S. budget fiasco,” “home prices/sales,” “volatile stock market” and the “European debt crisis” — 48 percent of Americans ranked “unemployment” as the most worrisome of 2011. The “U.S. budget fiasco” followed with 23 percent, with “home prices/sales,” “volatile stock market” and “European debt crisis” drawing less attention with 15 percent, 10 percent and 5 percent, respectively.

Help Not Wanted

Despite financial strains in the United States and throughout the world, when asked, “Given 2011’s economic conditions and your current financial situation, are you more or less likely to seek the advice of a financial advisor/professional,” nearly one-third (31 percent) said that they are “less likely” to look for help with financial planning. Only 20 percent indicated that they were “more likely” to seek financial advice with most people (49 percent) saying they’re “unsure” about focusing on their finances.

“It’s troubling to see that despite all of 2011’s economic volatility, Americans are placing less emphasis on addressing their financial security,” said Libbe. “Now more than ever, it’s imperative that people have a plan in place to help ensure financial stability and security—and help reduce some of the uncertainty surrounding retirement.”