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Home > Financial Press Releases > Americans Troubled About Finances Now But Optimistic About 2008
Americans Troubled About Finances Now But Optimistic About 2008
COUNTRY Financial Security Index Drops in December
BLOOMINGTON, Ill., Dec. 11 /PRNewswire/ -- Americans have lost
confidence in their personal level of financial security, but it does not
seem to have dampened their optimism about the year ahead. That's according
to the survey for this month's COUNTRY Financial Security Index. Despite a
1.1 point dip in the Index in December, 72 percent of Americans think next
year will be the same or better for them financially.
The drop in the December COUNTRY Index to 68.8 is the result of
Americans' greater pessimism about nearly all aspects of their current
financial security, especially about their ability to meet long-term
financial goals for college funding and retirement.
"The uncertainty of the economy has hit home with Americans and is
definitely having an effect on how they feel about their present
situation," says Keith Brannan, vice president of Financial Security
Planning at COUNTRY. "While optimism about 2008 is encouraging, it is
important that people turn their optimism into action. Review your finances
and adjust your spending and saving habits should the current turmoil
continue or get worse."
Retirement and College Planning in Jeopardy
-- Just 64 percent are confident they will have the resources to send
their children to college, a dramatic six point decline since October
and the lowest level recorded this year.
-- Those confident in their ability to enjoy a comfortable retirement
slipped three points to 63 percent in December.
"It's sometimes difficult to think about long-term financial goals when
there are so many near-term pressures during the holidays," adds Brannan.
"But with a little planning and discipline it's possible for Americans to
spread some holiday cheer and save for the future at the same time."
2007 COUNTRY Financial Security Index in Review
The COUNTRY Financial Security Index averaged 69.2 in 2007, with its
highest reading in February (70.2) and lowest in June (68.2). Of all
measures comprising the COUNTRY Index, college funding and asset protection
sentiments fluctuated most throughout the year. Most stable were people's
perception of their overall level of financial security and their ability
to set aside money for retirement, savings or investments.
Individuals can learn more and compare their own results with the
national COUNTRY Financial Security Index by visiting
http://www.countryfinancialsecurityindex.com. The next COUNTRY Financial
Security Index will be released on February 19, 2008 and subsequently every
other month.
The COUNTRY Financial Security Index
The COUNTRY Financial Security Index is a bi-monthly measure of
Americans' sentiments toward their overall financial security. It is an
aggregate of various factors comprising financial security including
savings and investments, financial planning, retirement, education and
asset protection.
The COUNTRY Index was created by COUNTRY Insurance & Financial Services and is compiled by Rasmussen Reports, LLC, an independent research firm, based on a
national telephone survey of at least 3,000 Americans.
The margin of sampling error for a survey based on this many interviews
is approximately +/- 2 percentage points with a 95 percent level of
confidence.
About COUNTRY
COUNTRY Insurance & Financial Services serves about one million households and
businesses throughout the United States. It offers a full range of
financial products and services from auto, home and life insurance to
retirement planning services, investment management and annuities.
SOURCE COUNTRY Insurance & Financial Services
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