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Americans insecure about finances

 

 

[Begin VIDEO with Kristin Arnold, Bankrate.com anchor introducing the video topic]

Kristin's intro: How are you feeling about your finances? Bankrate.com is out with the monthly Financial Security Index and here with details is Greg McBride, senior financial analyst for Bankrate.com.

[Cut to a double screen of Kristin Arnold and Greg McBride]

Kristin: What is the latest on Americans and their feelings of financial security?

Greg: The Bankrate.com Financial Security Index slumped in October, falling to the second lowest-level of the year, behind only that of dismal August reading. Now, as of early October, the weak economy, ailing housing sector, and volatile stock market all continue to undercut how Americans feel about financial security. Just 17 percent of Americans say their overall financial security is better now than it was a year ago.

Kristin: In what areas are Americans dealing with financial insecurity and are any particular groups being hard hit?

Greg: Americans feelings about savings, debt, and net worth continue to erode. And it's really those ages 50 and over who responses really stand out. Among retirees, only seven percent say their overall financial situation is better now than it was a year ago. And among those ages 50-64, more than half are less comfortable with their savings, just five percent more comfortable than 12 months ago.

[Cut to one shot of Kristin on camera]

Kristin: To see more of Bankrate.com's Financial Security Index, go to Bankrate.com.

« Back to October 2011 Financial Security Index.

 

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