The COVID-19 pandemic has fundamentally changed the way Americans plan their finances and savings, with many shifting to short-term rather than long-term goals, according to a new survey from New York.
As Americans look to the future with their finances in mind, many are beginning the new year with hope or a sense of feeling“ on track” toward a goal or lifestyle, with some feeling a sense of uncertainty. The latest New York Life Wealth Watch survey found that when asked how they were feeling about their finances going into the new year, nearly 40% of adults surveyed.
There’s never a lack of stories about advisors and the advice they offer. As in other years, 2021 was replete with predictions and proclamations about financial direction.
The Top 3 Long-Term Financial Goals Americans Are Prioritizing moneytalksnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneytalksnews.com Daily Mail and Mail on Sunday newspapers.
Americans More Secure, But Retirement Not So Much
The idea of a secure retirement is concerning for many Americans.
Americans are more secure about covering their expenses and are more optimistic about the future than they were a year ago, but they are neglecting to build the foundation for that security, according to recently released surveys.
A year ago, just as COVID-19 was winding up to become a pandemic, Americans were already uneasy with their finances, according to a New York Life Wealth Watch survey.
Last March, only 53% of respondents were confident in their ability to pay their monthly bills. This year’s survey showed 73% were confident.