Compared to 12 months ago, do you feel your overall financial situation is:
|Respondents under 50 were most likely to report they were better off overall, at 30 percent.|
|Respondents 50 to 64 years old were most likely to report being worse off, at 32 percent.|
|Only 12 percent of respondents 65 and older said they were better off.|
"Their gut is telling them that things are getting worse, but they want to be positive."People want to rally; they want to hope for the best. But they are fearing the worst and now seeing the worst, particularly in the housing market and the gross domestic product. For the first quarter, the GDP came in at 1.8 percent. But that wasn't really 1.8 percent because three-fourths of that was inventory that was sold, not consumers going out and buying things. If you take that number out, it came to 0.6 percent growth.
- Kimberly Foss, founder, Empyrion Wealth Management, Roseville, Calif.