May 2011: Financial security

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By Bankrate.com

May 2011 Financial Security Index » Financial Security

Q:

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

Those feeling better overall rose significantly from April's 21 percent.
Those feeling worse off overall dropped 5 percent, from 33 percent in April.
Only 12 percent of those 65 and older feel better about their financial situation, while 39 percent of those aged 18 to 29 do.

Donald Cummings

"People who are employed probably feel reasonably lucky; portfolios are up and they still have a job."

Nearly a third of people feel their overall financial situation is better than before, but practically a third feel worse. The realization of the economic situation, the lower returns in the market, the fact that the jobs that are gone may never come back: That maybe contributes to the feeling that things are worse than they were 12 months ago. People are realizing this is not a temporary situation. Though things are better, it will be a long, slow climb out of the situation of the past couple of years.

- Donald Cummings, principal, Blue Haven Capital, Geneva, Ill.

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Posted: May 23, 2011

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