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Study evaluates attitudes on financial stability and the notion of a balanced life

07/28/11

Genworth Financial recently published the findings of a survey evaluating consumers' outlooks on financial stability and a balanced life. The study found a divide between genders, as 54 percent of men stated they focus on financial planning at least once a week compared to 42 percent of women. Surprisingly, the survey also found that a larger percentage of women feel that financial wellbeing is important to a balanced life.

Wendy Boglioli, spokesperson for Genworth, said, "We found it interesting that those who said they needed financial wellbeing to maintain a balanced life - particularly women - are less likely to spend time focusing on financial planning. Living well now and in retirement requires a balance between being both financially sound and physically fit. These factors are often overlooked due to busy lifestyles."

Older respondents in the study viewed financial wellbeing as more of a necessity for a balanced life, with more than 77 percent of those 55 and older saying it's a necessity. Interestingly, people between the ages of 18 and 24 are more likely to take time to plan finances at least once a week than any other age group. More than 66 percent of those surveyed between the ages of 18 and 54 said that financial worries had a direct impact on their overall health.

Those interested in finding additional ways to save money can consider looking into the benefits of variable and fixed annuities.

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