7 Stats Showing That Americans Could Use Some Financial Advice

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Results from Edelman Financial Engines’ latest survey of U.S. workers shows many Americans — even the affluent — aren’t feeling confident about the state of their finances.

While some report struggling with credit card debt amid higher interest rates, others feel “handcuffed” by the costs of homeownership or limited by incomes that have failed to keep pace with the high rate of inflation.

“In our third year of conducting this research, we’re once again noticing that many Americans aren’t feeling overly confident about the state of their finances,” said Amin Dabit, head of wealth planning at Edelman Financial Engines.

Some of these worries stem from external pressures, like inflation or a turbulent election environment, while others derive from individual pressures, such as family responsibilities and mounting credit card debt.

“Through this research, we’re learning more about how these different factors all come together to impact the way Americans perceive and achieve their wealth,” Dabit said. “The insights we gain allow us to better help our clients plan and work toward their financial goals.”

See the slideshow for eight new findings from the survey showing how and why Americans are feeling fearful about their financial futures.

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