Posts Tagged ‘financial security’

73% of Americans Have Financial Regrets

Posted on June 06, 2017 by Laura Lam

Nearly 3-in-4 U.S. adults have financial regrets, according to a new Bankrate.com report. The most common is not saving for retirement early enough, followed by not saving enough for emergency expenses and taking on too much credit card debt. Taking on too much student loan debt is fourth, however, it tops the list among older millennials (27-36 year-olds). Fifth overall is not saving enough for your children’s education and sixth is buying more house than you could afford. Baby Boomers are the most likely to regret not saving for retirement earlier; remorse over this issue grows steadily from age 18-62. It’s…

Banks Plan to Spend More on Tech in 2016

Posted on October 19, 2015 by Saldutti

Driven by the need to secure computer systems, develop analytic capabilities and enhance customer-facing platforms, most banks are planning substantial increases in spending across a wide spectrum of technology in 2016, according to SourceMedia poll of chief information officers.  Anticipated increases in spending on security are particularly intense, with most executives forecasting jumps in budget allocations of at least 10%. By contrast, banks are finding little to cut in the technology arena, with desktops 1 of just 2 categories where more CIOs forecast decreases than increases in spending next year. Besides security, most bank CIOs plan to spend more next…

Aging America: Where are the Seniors?

Posted on November 10, 2014 by Saldutti

For years we have been warned about the looming, profound impacts that the aging of the U.S. population will have on the country. Well, the gray wave has arrived. Since 2000, the senior population has increased 29% compared to overall population growth of 12%. The percentage of Americans in the senior set has risen from 12.4% to 14.1%, and their share of the population is projected to climb to 19.3% by 2030. There are two principal causes for this: the baby boom generation is reaching 65 years old, while the U.S. fertility rate has fallen markedly in recent decades, despite…

72% of Americans Say the Recession is Still On

Posted on September 25, 2014 by Saldutti

Americans have a bleak outlook about both the nation’s financial health and their own, according to the 2014 American Values Survey released by the Public Religion Research Institute. The Ford Foundation-funded study revealed nearly three out of every four Americans (72%) believe the recession is still on.  This really doesn’t come as much of a surprise – given the lasting effect the recession has had on long-term unemployment. Fewer than one out of 10 Americans (7%) say they are in excellent financial health themselves. About a third of the people in the survey said they or someone else in their…

13 Years After 9/11, Markets Face New Threat

Posted on September 11, 2014 by Saldutti

It’s been 13 years since the 9/11 terror attacks shut down the U.S. stock market for four days and sparked a mini-crash of 12% in the first week that stocks resumed trading in September 2001. The resilient stock market has doubled since then – despite two brutal bear markets – and the economy lived on and prospered once again despite the tragic loss of life. Even though Osama bin Laden has been killed, the Iraq War is over, and terror group al-Qaeda isn’t as feared as it once was, the U.S., its economy and its financial system face a fresh…

Money Tips For College Freshmen

Posted on September 04, 2014 by Saldutti

With college starting for freshmen across the country, now is also the time to be thinking about money. Why? Because for many freshmen, this will really be their first time handling money on their own. They will have to pay bills, handle budgets, find a bank, and be faced with choices around credit cards and insurance. It’s important that parents prepare their college freshmen for these money choices, just like they would prepare them for other life decisions. Here are 10 important money-saving tips gleaned from various financial experts. 1. Find a Bank That Works With Your College Situation –…

Confused by Your Bank's Overdraft Options?

Posted on June 30, 2014 by Saldutti

Bank customers remain confused about overdraft, according to a new study by Pew Charitable Trusts. More than 50% of the people who reported paying an overdraft fee in 2013 told Pew they don’t recall opting into overdraft coverage or knowing how much a slip-up would cost them. So much for that change of the law in 2010 that made banks get customers’ permission before signing them up for overdraft programs. “Overdrafters are still befuddled by the rules,” said Susan Weinstock, director of Pew’s consumer banking project. When Pew asked people who had opted into overdraft protection programs what they would…

The "American Dream" is Dying

Posted on June 11, 2014 by Saldutti

More than half of Americans think the so-called American Dream is dying. According to a new poll conducted by ORC International for CNNMoney, 59% of the U.S. now believes that the American Dream is impossible for most Americans to achieve. That figure is up from 54% in 2006, before the recession. The poll did not specify how people define the American Dream, but historically many have defined it as the ability to obtain a better lot in life through hard work.  A declining faith in the American Dream has gone hand in hand with the stagnation of wages and in…

72% of Americans Would Rather Be Thin Than Debt-Free

Posted on August 19, 2013 by Saldutti

It’s summertime. As the temperature and humidity rise, Americans flock to beaches and pools. So personal finance company, Credit Karma, wanted to know: Do Americans care more about their looks or their debt? A survey conducted by Harris Interactive found that debt-ridden Americans often put their physical appearance ahead of their financial state. In fact, a whopping 72% of Americans would rather keep their current debt, than gain 25 pounds and be completely debt free. The June 2013 survey was conducted online among 2,021 Americans ages 18 and older. Weight trumps debt for many Americans this summer – 43% agree,…