Among financial goals, the desire for long-term protection is clear, Northwestern said in a press release.
Financial goals cited include:
- Maintaining a comfortable standard of living during retirement (78% reporting 7 or higher on a scale of 1-10);
- Not falling below your current standard of living (73%);
- Protecting your income in the event of a disability (60%);
- Protecting your family’s standard of living in the event that the household breadwinner passes way unexpectedly (55%);
- Building a sizable investment portfolio (47%);
- Making a major purchase such a car, boat or furniture (30%); and
- Financing your children’s college education (29%).
Three out of four Americans (74%) said the pace of today’s society is making it harder for them to focus and remain on track toward achieving long-term goals. However, the research – called the Stick With It study – also reveals how some people are successfully remaining focused over time.
The number one strategy that works is “setting small interim goals,” with nearly seven out of 10 people (67%) reporting this as a key step to ensure a long-term goal is achieved. The two next most common strategies are “allowing yourself to make mistakes” (62%) and “holding yourself accountable” (60%).
When asked what areas people feel they could use more self-discipline in, financial came in second (47%) behind fitness/diet (62%).Independent research firm Market Probe conducted the online survey of 1,000 Americans ages 25 or older between March 4 and March 15, 2011.
« Northern Trust Enhances Hedge Fund Monitor