Most Americans say they are concerned about their long-term financial security, but they only follow through on financial advice they receive some of the time, new research reveals.
TIAA-CREF disclosed this finding in a new report, “TIAA-CREF Financial Advice Survey.” The telephone survey of 1,006 adults ages 18 and older was conducted by KRC Research in July.
The survey observes that just one-third of Americans consistently take action after receiving financial advice. Yet nearly half of the respondents admit they worry about their long-term financial future.
One in five of Americans surveyed say that finding relevant financial advice is difficult. Of these, 51 percent don’t know where to start looking. And 74 percent don’t which sources they can trust.