Americans Struggle to Find Stability as 2010 Begins

BLOOMINGTON, Ill., Feb. 16 /PRNewswire/ -- The New Year is off to a rocky start when it comes to how Americans feel about their personal finances. The COUNTRY Financial Security Index^® took a 3.2 point tumble in February to 63.1, the biggest single drop the bi-monthly measure has ever recorded and an indication that Americans remain undecided about their confidence in their own level of financial security.

The decline comes after the COUNTRY Index showed an uptick at the end of last year. Now, in a reversal of sentiment, Americans have grown more pessimistic about all aspects comprising their financial security. Since December, those rating their overall level of financial security as excellent or good sunk nine points to just 35 percent, and the number of people able to set aside money for savings or investments fell seven points to 43 percent.

"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."

Individuals can learn more and compare their own results with the national COUNTRY Financial Security Index by visiting http://www.countryfinancialsecurityindex.com. The next COUNTRY Financial Security Index will be released April 20, 2010 and subsequently every other month.

The COUNTRY Financial Security Index

The COUNTRY Financial Security Index^® is a bi-monthly measure of Americans' sentiments toward their overall financial security. It is an aggregate of various factors comprising financial security including savings and investments, financial planning, retirement, education and asset protection.

The COUNTRY Index was created by COUNTRY Financial and is compiled by Rasmussen Reports, LLC, an independent research firm, based on a national telephone survey of at least 3,000 Americans.

The margin of sampling error for a survey based on this many interviews is approximately +/- 2 percentage points with a 95 percent level of confidence.

About COUNTRY

COUNTRY Financial (http://www.countryfinancial.com) serves about one million households and businesses throughout the United States. It offers a full range of financial products and services from auto, home and life insurance to retirement planning services, investment management and annuities.

SOURCE COUNTRY Financial

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED