Life Insurance Quotes

Americans' biggest financial worry is a simple lack of funds

07/25/11

According to a recent study by Gallup, the most cited financial worry of U.S. citizens remains a basic lack of funds. The study found that a lack of money was the most often cited concern of 17 percent of respondents, compared to nine percent who worried most about the loss of a job and unemployment.

Healthcare costs were the second most cited concern, with 12 percent of Americans naming it as their top worry, while 11 percent stated their largest concern was too much debt or not enough funds to cover debt. Inflation and the high cost of living tied loss of job and unemployment concerns at nine percent.

Energy costs and oil and gas prices were named the top concern by 7 percent of those surveyed. The study states that this is somewhat surprising, "Given the unemployment picture and near four-dollar-per-gallon gasoline prices, Americans' top list of financial concerns has remained fairly constant over the last two years. For example in July 2008, when gas prices topped the four-dollar mark, 29 percent of Americans said energy and gas prices were the most important financial concern."

For those looking for ways to increase their savings, annuities offer a good opportunity. These accounts allow people to store away large amounts of funds and defer from paying taxes, and unlike 401(k) plans and IRA's, they don't have an annual contribution limit.

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