Seven in 10 Americans who describe themselves as “highly disciplined” planners feel more financially secure than compatriots who are less rigorous in pursuing financial objectives.
So concludes Northwestern Mutual in the company’s annual 2014 Planning and Progress Study. Based on an online survey of 2,092 Americans ages 18 and older, the research examines, among other objectives, Americans’ progress toward meeting financial security objectives, attitudes about money and financial decision-making and perspectives on working with a financial advisor.
The report reveals that 51 percent of Americans who describe themselves as “disciplined” planners — individuals who have drafted goals and plans to meet them, but deviate at times from the objectives — feel “very secure” financially. Smaller percentages who feel equally secure financially include survey respondents who are “informal planners” who have financial goals but don’t know how to meet them (34 percent); and nonplanners who haven’t established goals (17 percent).