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28 percent: Overall financial situation worse

January 2012 Financial Security Index » Financial Security

Q:

Compared to 12 months ago, do you feel your overall financial situation is:

Overall financial security declines with age. Thirty percent of those younger than 30 say they're better off today than a year ago, versus 10 percent of those 65 and older.
Forty percent of those making less than $30,000 say they're worse off, compared to 21 percent of those making more than $30,000.
About 1 out of 4 urban and suburban respondents say they're better off today, compared to 15 percent of Americans in rural areas.
Robert Fragasso

"Essentially, people said nothing has really changed."

Essentially, people said nothing has really changed. I think if we could compare it to two years ago or three years ago, there would be an improvement because, at that time, we were standing on the precipice of economic calamity. But from last year to this year, nothing has really changed. There has not been a tremendous amount of improvement in the economy; the economy has gone sideways. People are still apprehensive about the future and concerned with jobs. And they are definitely concerned with political inaction. The good news is that their feelings didn't get worse.

- Robert Fragasso, CFP, CEO, Fragasso Financial Advisors, Pittsburgh

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