Two in five consumers who have not created a financial plan believe they do not need one.
Nationwide Financial discloses this finding in an investor sentiment survey, “Fear of Financial Planning,” conducted by Harris Interactive. The survey’s release coincides with Financial Planning Week, taking place Oct. 7-11.
The survey finds that 38 percent of consumers who have no financial plan do not intend to create one.
“We live in an era when Americans are more responsible for their own financial security than ever before,” said Michael Spangler, president of Nationwide Funds. “However, for various reasons far too many haven’t taken the time to draft a detailed financial plan to help them achieve their goals over the short, medium and long terms.”