"We do tend to see a drop in sentiments early in the year as the holiday cheer subsides and credit card bills from those festivities come due," says Keith Brannan, vice president of Financial Security Planning for COUNTRY Financial. "This year's decline is more severe, however, and probably represents the struggle to remain patient with our nation's financial recovery. If there is good news, it's that most families can achieve financial security, even if it's difficult to see the light at the end of the tunnel right now."
Retirement confidence for near-retirees stable despite overall drop
While there was a six-point drop to just 53 percent in the number of Americans confident they will have enough money to enjoy a comfortable retirement, sentiments among those nearing retirement remain stable. Fifty-six percent of 50-64 year olds are confident in their ability to retire comfortably, stable since December.
Property protection concerns spike
There was a five point drop to 79 percent in the number of Americans confident their house, car and possessions are adequately insured. Since the COUNTRY Index began in February 2007, confidence in the ability to protect their belongings has only fallen below 80 percent three times.
"People often think financial security is only investments and savings, but that's only part of it," adds Brannan. "Financial security is about safeguarding what you've already achieved – home, property and income – while at the same time saving and investing for your family's future."
