|[December 17, 2012]
Americans Make Personal Finances a Low Priority for 2013
MINNEAPOLIS --(Business Wire)--
According to the annual New Year's Resolution Survey* from Allianz Life
Insurance Company of North America (Allianz
Life), a staggering 84 percent of Americans surveyed said that they
will not include financial planning in their resolutions for 2013. This
lack of financial focus is at the highest level in the survey's
four-year history, exceeding the 80 percent of respondents who ignored
financial planning when making resolutions for 2012 and 67 percent from
the inaugural 2009 survey.
For the fourth consecutive year, the top reason for leaving financial
planning out of resolutions was respondents' belief that they "don't
make enough to worry about it" (32 percent). Twenty-six percent said
that they already "have a solid financial plan" and 20 percent
attributed it to the fact that they "don't have an advisor/financial
professional," both responses rising 3 percent from the 2011 survey.
"It's alarming that Americans' willingness to ignore financial planning
in their New Year's Resolutions continues to go up year after year,"
said Katie Libbe, vice president of Consumer Insights for Allianz Life.
"With the responsibility for retirement security shifting from employers
to individuals, people need to become more, not less, active with
inancial planning to ensure they have enough money to fund a retirement
that could last up to 30 years."
Unfortunately, when respondents were asked how likely they are to seek
advice from a financial professional in 2013, more than a third (36
percent) responded "less likely," up 5 percent from 2011. Only 20
percent said they were "more likely," matching 2011, while 44 percent
noted they were "unsure," down 5 percent from the 2011 survey.
Waistlines Continue to Trump Wallets
For the second straight
year, "health/wellness" topped Allianz Life's survey as the most
important focus area for the upcoming year. Forty-four percent of
respondents made it their top selection followed by "financial
stability" (31 percent), "employment" (15 percent) and "education" (6
In terms of resolutions they are most likely to keep, "exercise/diet"
came out on top at 44 percent, besting "manage money better" (41
percent) and "spend more time with family/friends" (26 percent).
Exercise/diet remains the top selection since the initial survey in
2009, although it is down five percentage points from the 2011 survey's
high of 49 percent.
Infographic available upon request.
About Allianz Life Insurance Company of North
Life Insurance Company of North America, one of FORTUNE's 100 Best
Companies to Work For in 2012, has been keeping its promises since 1896.
Today, it carries on that tradition, helping Americans achieve their
retirement income and protection goals with a variety of annuities and
life insurance products. As a leading provider of fixed index annuities,
Allianz Life is part of Allianz SE, a global leader in the financial
services industry with 142,000 employees worldwide. More than 78 million
private and corporate customers rely on Allianz knowledge, global reach,
and capital strength to help them make the most of financial
Allianz Life Insurance Company of North America offers insurance and
annuities in all states except New York. In New York, products are
issued by Allianz Life Insurance Company of New York.
*Allianz Life Insurance Company of North America conducted an eNation
online survey, the Allianz Life New Year's Resolution Survey, December
2012, through Ipsos with 1,000 respondents.
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