Sixty-three percent of Americans acknowledge that their financial planning needs improvement with 24 percent attributing their inaction directly to a lack of time.
The findings are found in a recent report by Northwestern Mutual. The “2013 Planning and Progress Study” found that many Americans feel modern society and its rapid pace are clouding their ability to think clearly and focus on what is currently taking place let alone plan for their future.
Sixty-nine percent of Americans surveyed for the study reported that the pace of society makes it harder for them to stick to long-term goals. More than one-in-four people feel they are too busy to even think about long-term goals which may be one of the reasons why half of all Americans have no financial plan in place.