Americans with savings the most financially responsible

Feb 06, 2012

Financially responsible Americans have saved for the future.

A recent survey from New York Life Insurance Company found 57 percent of Americans plan to reduce their debt in 2012, and 50 percent aim to save more. Many respondents said what could help them achieve these goals in the next 12 months would be to consult with a financial planning professional so they can find products to help prepare for their financial futures.

The survey showed only 30 percent of respondents think their family will be more financially secure and better prepared for the unexpected, and 24 percent think they will be in better financial shape for retirement. One way to do both of these things in through an investment in life insurance.

And putting off financial planning can make retirement more difficult down the road. Another survey from BMO Harris found 57 percent of Americans are not confident in their ability to save for their ideal retirement lifestyle, and 52 percent anticipate having to delay retirement due to a shortage of retirement savings.

"This is a critical wake-up call to everyone, no matter what your age," said Mike Miroballi, president and COO at BMO Harris Financial Advisors. "Our best advice, start now! Get smart about planning and saving for retirement, and get educated about the many strategies and tools available to help maximize your savings."

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