What are Your Financial Fears?
November 6, 2007
If you had to reveal your greatest financial fear, what would that be? Loss of a job? Stock market crash? Falling home prices?
The Texas Society of CPA’s conducted a poll, asking over 150 employees to name their greatest financial fear. The answers they compiled may surprise you.
Of those polled, over 30 percent responded that higher health cost were number one on their list. Coming in second place was a tie between low retirement savings and the dreaded audit by the IRS. Both of these earned a rating of 29 percent. Surprisingly, only 10 percent of those responding felt as if credit card debt was a financial fear.
While the survey was not scientific in nature, it does reveal that certain categories of financial issues seem to be wide-spread. The percentage levels of fear may vary between financial classes of people (those with lower incomes as compared to those with higher incomes) but overall people seem to share the same types of fears when it comes to their finances.
In other words, those with lower incomes and heavily in debt to credit card companies may feel that is a higher priority than worrying about future retirement savings, but few, regardless of income level, seem to be immune from financial fears