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6 Recent Personal Finance Trends

The American Institute of CPA’s (AICPA) recently published a list of personal finance trends that we should all be concerned about. These trends highlight the fact that almost 63 percent of Americans today are unable to pass a basic financial literacy test.

Financial literacy skills have taken a nose dive

Younger people had the sharpest drop in their ability to answer four of five financial literacy questions correctly.

It’s been a decade since the Great Recession’s upheaval, and while some measures of Americans’ economic well-being have recovered like the unemployment rate, their financial literacy isn’t one of them.

Financial Prosperity Eludes Many Americans Despite Growing Economy and Declining Unemployment

National survey of financial capability finds younger Americans, those with lower incomes, African-Americans and those without a college degree facing toughest financial struggles.

More Financial Missteps, Revisited

We thought this blog post was so important, we decided to share it again! Avoiding these financial missteps may help improve your future personal finances. It's never too late to better your future financial wellness.

 

It’s Never Too Late to Save

Retirement can sneak up on you.

Many college students doubt they'll be able to pay off their student loans – ever

At a time when college students are taking on billions of dollars in debt, many don't know how to deal with finances and doubt they'll ever be able to pay back what they borrowed, according to a new survey. 

How Parents’ Financial Planning Influences Adult Children

Twenty-seven percent of Americans are concerned about their parents’ financial security in retirement, and they are twice as likely to lack confidence in their own retirement prospects as those who are unworried about their parents, TIAA reported this week.

This finding was based on an online survey conducted by KRC Research in February among 1,003 U.S. adults.

Start Saving for Retirement Today

Time certainly goes by fast. One day you’re interviewing for your first job and the next thing you know you’re a few short years from applying for Social Security.

Who’s Responsible for Your Parents’ Nursing Home Cost? It’s Not Who You Think

Long-term care planning often carries significant negative associations. Most people don’t want to plan for a time when they are incapacitated and require constant care, and the dramatic increases in the cost of long-term care insurance have made this type of planning shockingly expensive for many clients.

62% of Americans Are Confident About Their Current Financial Health, but a Majority Lack Confidence in Their Retirement Future

While 62% of Americans are confident about their current financial health, a majority lack confidence in their retirement future still, only 18% have created a comprehensive written plan for retirement.

Planning helps people feel better: 49% who have a retirement plan in place say they feel “In control." 

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