Americans Rate Their Financial Happiness A 4.9 out of 10
Article by Rebecca Rickert
(BPT) - On America's financial scorecard, people rate their happiness with their overall personal finances a 4.97 out of 10 - and scores need improvement across the board, as the majority (91%) are prioritizing their financial health and happiness in a year of decisions ahead. New Empower research introduces comprehensive findings on how Americans plan to navigate the next wave of decisions on saving, investing, and the value of good advice.
Self-assessment across all dimensions of people's financial happiness is flagging: Americans rate their satisfaction with their retirement savings an average of 4.54, and the likelihood of retiring at their goal age at 4.93 out of 10. When rating their financial success, scores come in at 4.46, as over half feel success is further away now than it was a year ago (55%). Contentment with salary notches in at 4.65, and people grade their ability to afford a home at a 4.83.
Economic uncertainty, geopolitical tensions and market volatility may be influencing scores, and delaying some
choices: 69% think the economy is too uncertain to make big money moves. Still, Americans say they plan to make important decisions in 2025, including figuring out how to make more money (43%); how to be financially happy (37%); and start an emergency savings fund (31%) - as 76% believe they need more savings to prepare for the unexpected. Nearly a third intend to make a financial plan (42% Gen Z, 39% Millennials).
"We are living in a 'Great Decide' as people forecast their fortunes in an unpredictable world. People feel they have to be financial futurists to make heads or tails. This era could majorly shift patterns of saving, investing and, critically, where people turn for advice," says Rebecca Rickert, head of communications and consumer insights at Empower.
Navigating decisions
When it comes to making investment decisions, half of Americans say they're
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