This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Americans Express Overwhelming Confidence In Their Own Financial Decision-Making Ability But Remain Concerned About The Economy

Stocks in this article: ALL

Yet Americans' confidence in their own abilities remains unwavering, supported by the strong belief that they are well-prepared to make important financial decisions in the wake of the Great Recession. Nearly nine in 10 (89 percent) say they're confident they understand information about important financial decisions writ large, and they're also highly confident they have the information needed to buy a home (77 percent), plan their retirement (75 percent), and set up an inheritance (64 percent). 

"Despite the headwinds we continue to face, the resilience of the American people is alive and well," said Sanjay Gupta, executive vice president of marketing, innovation and corporate relations for Allstate. "It is this American trait and tradition of individual responsibility—more specifically, the ability to control one's financial decisions and destiny—that makes this country unique and continues to be the foundation of our culture, political, and financial system."

"With the stock market soaring, home prices recovering, and borrowing costs low, this survey suggests that Americans with means and credentials once again see the financial system as a reliable channel toward achieving their goals," writes Ronald Brownstein, editorial director for National Journal and Atlantic Media. "But for many Americans struggling to stay afloat after a decade of stagnant incomes, the financial system still looms like a cloud on the horizon—opaque, unpredictable, and vaguely menacing. This poll suggests that a clear challenge remains to create a financial system that all Americans believe can help them achieve their aspirations."

Watch a live briefing on key findings from the latest Heartland Monitor Poll today at 8:30 a.m. ET, at http://www.nationaljournal.com/events, featuring Sheila Bair , former chairwoman of the U.S. Federal Deposit Insurance Corporation (FDIC).

In evaluating their current situation, many Americans say they are falling behind on key financial milestones, including saving for retirement (44 percent), contributing to a 401k or IRA (42 percent), maintaining an emergency savings fund (47 percent), estate planning (54 percent) and investing in the stock market (50 percent). However, when it comes to paying off debt, Americans mostly believe they are either on track (54 percent) or ahead (21 percent); 65 percent of respondents also say they're on track with sticking to a monthly budget.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs