Do You Have a Financial Professional?

New Survey Shows Main Street Families Need Help!!!

Primerica and the Consumer Federation of America recently co-sponsored a survey about the financial health of Main Street America titled "The Financial Status and Decision-Making of the American Middle Class." According to the new report, the financial condition of most middle class families is challenging, yet they are reluctant to seek help from a financial professional.

• Two out of three adult Americans say they have made at least one really bad financial decision, with average loss costing $23,000. Yet large majorities of those surveyed believed their ability to make sound financial decisions is "good" or "excellent." 
• In 2010 the typical middle class family had financial assets of $27,300 - including retirement savings but not pensions - which was 28% less than the $37,800 held in 2007.
• For "saving and investing", only 15% said they would rely on the internet, publications, or TV for the information, yet another 17% said they "wouldn't seek any information or advice, and just make a decision." However, for this kind of decision, 45% said they would use information and advice from a financial professional.

It's What You Know

When it come to your finances, how much do you know? Are you one of the ones who have made a "really bad financial decision?" Are you willing to seek out financial education from a professional - or just wing it? If you want help from a financial professional but don't know where to start, Primerica is the answer!

"This survey shows what we really know. Main Street families have too much debt, not enough savings and no protection. But when you get to the bottom line, people think that, despite all their mistakes, they know enough to be able to take care of it themselves. Families spend more time planning a vacation than their financial future. They stuff all their financial decisions in a drawer, ignore it and hope it will get better. The biggest impediment to getting financially independent is procrastination." ~ Primerica Co-CEO John Addison

You probably have a trusted professional to take care of your car or even your hair...  but what about your financial health? Do you have a dedicated mechanic and hairstylist, but not a personal financial professional?

Don't put off until tomorrow what you can do today. When it comes to your financial health, every day counts.

Alejandro Simon

Independent Representative of Primerica