Released: October 13, 2008

Poll finds financial anxiety is growing

Source: Jennifer Agiesta and Jon Cohen, Washington Post

Americans’ confidence in their own financial security has tumbled alongside dizzying declines in stock prices and home values, according to a new Washington Post-ABC News poll. Less than half now believe they will have enough money to last through retirement, and two-thirds fear for their family’s economic situation.

More than four in 10 in the poll said they have been hurt by the stock market’s steep decline; one in six reported “a great deal” of financial pain. Yet even in the wake of last week’s historic sell-off on Wall Street, many Americans who own stocks or stock funds—about three in 10—have not looked at their holdings to assess the damage.

One reason: Almost all investors polled said they are in the market for the long term, and most understand the underlying risks of stocks.

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Keywords

Debt, Money Management, Budgeting, Retirement