Administration May 4, 2003

Americans Unprepared for Rainy Days

April 17, 2002 (PLANSPONSOR.com) - Three quarters of respondents to a survey aren't saving more to prepare for an eventual job loss while only a scant 30% say they are financially ready to be laid off, according to a Bank One survey.
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In fact, more than half of respondents said they were totally unprepared for the unemployment line.

Results also show that one in five investors are investing less than they did a year ago, while a quarter is investing more.

The survey also examined how respondents bought their finances into their personal relationships, finding that:

  • some 64% of men and women say having a financially savvy spouse is important to them, although only 16% label their spouse as savvy,
  • nearly half of men, 47% and 35% of women search for a mate who is a frugal spender, and
  • 70% feel they can figure out their family’s net worth, but only 40% believe their spouse could do it

Impulse Research Corp. conducted the online survey in early February 2002 with a random sample of 1,061 men and women ages 21 to 50.

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