“Americans’ financial worry has eased to the lowest level since before the recession” … says a news release from Gallup. The recent survey indicates 53% of Americans “highly or moderately worried about their finances” … down from a peak of 61% a year ago, and the lowest since 45% in 2007.
Here are some findings from the poll: 61% are “very or moderately worried” that they won’t have enough money for retirement. 58% are worried that they won’t be able to pay medical costs of a serious illness or accident. 51% worried that they won’t be able to maintain the standard of living they enjoy.
I was a bit surprised that only 44% reported being worried about not being able to pay medical costs for normal healthcare. 52% said they are “not too or not at all worried” about that.
It’s nice to see the Gallup financial worry number falling. A little consumer confidence is always good for the economy.
Our thought for today is from Peter Drucker:
“In all recorded history there has not been one economist who has had to worry about where the next meal would come from.”