Northwestern Mutual study reveals Americans are optimistic d
Wednesday, Mar 11,2009, 12:13:46 PM Click:
Copyright: Business Wire
Source: Business Wire
Wordcount: 1382
Business Editors / Financial Editors
MILWAUKEE - (BUSINESS WIRE) - March 10 2009 - At a time of historic challenges and a deep recession in the United States, Americans remain optimistic significantly, according to a study commissioned by Northwestern Mutual. The research, called the study of American, has revealed a number of surprising results on the attitudes and priorities of Americans age 25 and older. People seem to be realistic about the serious financial difficulties to come, but are positive about the future, even in the short term. They are satisfied with the success it is achieving what matters to them most, and believe they will achieve their dreams.
In addition to this clear pattern of optimism, the study - which was conducted by independent research firm Mathew Greenwald & Associates - suggests that the traditional concept of the "American Dream" has changed, and Americans have developed a new "American reality." Today, success is measured in family units. Quality of life is more important than career, money and material possession. And the average adult age is considered the "Golden Years" of life.
"What we see very clearly from this research is that" balance sheet "is considered the main criterion for success," said Greg Oberland, Northwestern Mutual Executive Vice President of insurance and technology. "The go-go materialism days are over. Even the classic image of the American Dream - a house of his own with a white picket fence - is outdated. "
Success is measured in family units
Participants in the reality of American studies were asked to select the ten attributes that best fit their definition of "success." Top of the list of measures have been immaterial, such as spending quality time with family "(88%)," have a good relationship with your spouse or partner (86%), "be healthy" (81%), "a good work / life balance" (80%) and "being a good parent" (77%).
On the other hand, measures of achievement among the bottom ten responses, including the owner of the house of your dreams "(31%)," earn a high income (22%), and have beautiful property "(13 %).
In terms of achieving personal success, research indicates that Americans think they are doing very well in areas that matter most to them. About three quarters of people think they are doing less well spend time with his family, have a good relationship with their spouse or partner, or being a good parent (79%, 73% and 79%, respectively). In comparison, only half are satisfied with their careers, 38% owner of the house of their dreams, and 23% earn a high income.
Money is a means to an end
While the success in family matters is more important, a large majority of Americans also place a financial guarantee from their main concerns, with three in four respondents say that financial security is somewhat or very important to them. However, only 6% strongly agree that money is synonymous with happiness.
"We see this as an indication that people see the financial security as a catalyst for things they really want in life - to be able to spend quality time with their families, to achieve a better work / life balance and be the kind of parent, spouse, partner, and they aspire to be, "said Mathew Greenwald, President and CEO Mathew Greenwald & Associates.
The news is not particularly good, although when it comes to evaluating how the Americans are themselves financially. Only one in eight respondents (12%) feel very or extremely secure in their finances, and more than four in ten (44%) feel ill-prepared for the future.
Yet there are bright spots on the horizon. More than four in ten respondents indicated they expect to spend less (41%) and increase their savings (42%) from 2009. Moreover, despite the economic turmoil, Americans remain optimistic - only 19% of respondents expect their level of financial security to decline in 2009, and 65% believe they will eventually get where they want be in life.
"It seems that Americans deal with serious financial problems are now more realistic, that perhaps they did before the global economic crisis," said Oberland. "We have been heartened to see that people plan to save more, and place greater priority on achieving financial security for the future. "
Forget dark. The Americans are happy.
The study of contemporary American also suggests that, if times are tough, Americans are happy, and expect to be even happier soon.
On a scale from 1 (very dissatisfied) to 10 (very satisfied), respondents reported an average of 6.5 degree of happiness. Moreover, despite the unprecedented economic turmoil throughout the world, the average American plans to their level of happiness will increase to a score of 7.3 only a year from now, and will increase to 7.9 in five years.
Consistent with the pattern of optimism and hope for better things to come, Americans expect the next generation will be happier when they reach their parents, age (7.8 against 6.5) .
Stereotypes about age are outdated
The findings of the study of American generations suggest that some stereotypes are likely wrong. Perhaps most surprisingly, Americans older than 55 years, expressed a greater sense of idealism that other generations, putting more emphasis on things like protecting the environment, peace of the world and make a positive contribution to society.
For example, 62% of people aged 55 are considered environmentally friendly, compared to 52% aged 25-34 years. Half of Americans aged define success as being environmentally friendly, compared to 39% 25-34 years, and a significantly older Americans (33%) cited world peace among the objectives that should provide greatest improvement in their lives, as opposed to 25-34 years (9%).
Older people still seem to believe that most young kids - 71% of people aged 55 and over believe that young people make a positive contribution to the future of the country against only 59% of these young people.
Finally, while many assume that the best years of life from the youth of its 20 years, with his characteristic freedom and sense of possibility, or in one of 60 years, with its comfort and time to recreation, the study of American think otherwise. Three in ten Americans (29%) feel that average adult (age 35 to 54) end up being the best stage of life, twice as much as mention another stage of life.
About Research
Northwestern Mutual sponsored the reality of American studies to help give an overview of how Americans are handling the economic, political and social changes underway in the United States and what was the impact on the way which they perceive their lives and the future.Independent research firm Mathew Greenwald & Associates conducted the online survey of 1,000 Americans aged 25 years or more between 14 January and 6 January 2009. Study participants were selected from among the members of Survey Sampling International SurveySpot ™ Internet Panel Survey. The survey data were weighted by gender, age and household income to reflect the composition of the U.S. population aged 25 years or more. Population statistics are based on data from the Current Population Survey 2007. A detailed description of the weighting methodology is available upon request. See the full report online.
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company - Milwaukee, WI (Northwestern Mutual) has helped customers achieve financial security for over 150 years. As a mutual over $ 1 billion to protect the life insurance in force, Northwestern Mutual is seeking to share its achievements with policyowners and provide constant and reliable for customers over time.
Northwestern Mutual is an industry leader in total individual life insurance and disability insurance dividends paid to participants policyowners. Although dividends are not guaranteed, are reviewed annually and are subject to change, the company paid dividends from life insurance each year since 1872.
Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions, including: life insurance, long-term care insurance, disability insurance, annuities, investment products and consulting products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, a broker-dealer, registered investment adviser, member FINRA and SIPC, Northwestern Mutual Wealth Management Company, but limited Federal Savings Bank, and north-west of Long Term Care Insurance Company and Russell Investment Group. Further information can be found at http://www.northwesternmutual.com.
This is an information service of Thomson Business Intelligence Service © 2006. This content is only for your personal use, subject to the terms and conditions. No redistribution allowed.
Source: Business Wire
Wordcount: 1382
Business Editors / Financial Editors
MILWAUKEE - (BUSINESS WIRE) - March 10 2009 - At a time of historic challenges and a deep recession in the United States, Americans remain optimistic significantly, according to a study commissioned by Northwestern Mutual. The research, called the study of American, has revealed a number of surprising results on the attitudes and priorities of Americans age 25 and older. People seem to be realistic about the serious financial difficulties to come, but are positive about the future, even in the short term. They are satisfied with the success it is achieving what matters to them most, and believe they will achieve their dreams.
In addition to this clear pattern of optimism, the study - which was conducted by independent research firm Mathew Greenwald & Associates - suggests that the traditional concept of the "American Dream" has changed, and Americans have developed a new "American reality." Today, success is measured in family units. Quality of life is more important than career, money and material possession. And the average adult age is considered the "Golden Years" of life.
"What we see very clearly from this research is that" balance sheet "is considered the main criterion for success," said Greg Oberland, Northwestern Mutual Executive Vice President of insurance and technology. "The go-go materialism days are over. Even the classic image of the American Dream - a house of his own with a white picket fence - is outdated. "
Success is measured in family units
Participants in the reality of American studies were asked to select the ten attributes that best fit their definition of "success." Top of the list of measures have been immaterial, such as spending quality time with family "(88%)," have a good relationship with your spouse or partner (86%), "be healthy" (81%), "a good work / life balance" (80%) and "being a good parent" (77%).
On the other hand, measures of achievement among the bottom ten responses, including the owner of the house of your dreams "(31%)," earn a high income (22%), and have beautiful property "(13 %).
In terms of achieving personal success, research indicates that Americans think they are doing very well in areas that matter most to them. About three quarters of people think they are doing less well spend time with his family, have a good relationship with their spouse or partner, or being a good parent (79%, 73% and 79%, respectively). In comparison, only half are satisfied with their careers, 38% owner of the house of their dreams, and 23% earn a high income.
Money is a means to an end
While the success in family matters is more important, a large majority of Americans also place a financial guarantee from their main concerns, with three in four respondents say that financial security is somewhat or very important to them. However, only 6% strongly agree that money is synonymous with happiness.
"We see this as an indication that people see the financial security as a catalyst for things they really want in life - to be able to spend quality time with their families, to achieve a better work / life balance and be the kind of parent, spouse, partner, and they aspire to be, "said Mathew Greenwald, President and CEO Mathew Greenwald & Associates.
The news is not particularly good, although when it comes to evaluating how the Americans are themselves financially. Only one in eight respondents (12%) feel very or extremely secure in their finances, and more than four in ten (44%) feel ill-prepared for the future.
Yet there are bright spots on the horizon. More than four in ten respondents indicated they expect to spend less (41%) and increase their savings (42%) from 2009. Moreover, despite the economic turmoil, Americans remain optimistic - only 19% of respondents expect their level of financial security to decline in 2009, and 65% believe they will eventually get where they want be in life.
"It seems that Americans deal with serious financial problems are now more realistic, that perhaps they did before the global economic crisis," said Oberland. "We have been heartened to see that people plan to save more, and place greater priority on achieving financial security for the future. "
Forget dark. The Americans are happy.
The study of contemporary American also suggests that, if times are tough, Americans are happy, and expect to be even happier soon.
On a scale from 1 (very dissatisfied) to 10 (very satisfied), respondents reported an average of 6.5 degree of happiness. Moreover, despite the unprecedented economic turmoil throughout the world, the average American plans to their level of happiness will increase to a score of 7.3 only a year from now, and will increase to 7.9 in five years.
Consistent with the pattern of optimism and hope for better things to come, Americans expect the next generation will be happier when they reach their parents, age (7.8 against 6.5) .
Stereotypes about age are outdated
The findings of the study of American generations suggest that some stereotypes are likely wrong. Perhaps most surprisingly, Americans older than 55 years, expressed a greater sense of idealism that other generations, putting more emphasis on things like protecting the environment, peace of the world and make a positive contribution to society.
For example, 62% of people aged 55 are considered environmentally friendly, compared to 52% aged 25-34 years. Half of Americans aged define success as being environmentally friendly, compared to 39% 25-34 years, and a significantly older Americans (33%) cited world peace among the objectives that should provide greatest improvement in their lives, as opposed to 25-34 years (9%).
Older people still seem to believe that most young kids - 71% of people aged 55 and over believe that young people make a positive contribution to the future of the country against only 59% of these young people.
Finally, while many assume that the best years of life from the youth of its 20 years, with his characteristic freedom and sense of possibility, or in one of 60 years, with its comfort and time to recreation, the study of American think otherwise. Three in ten Americans (29%) feel that average adult (age 35 to 54) end up being the best stage of life, twice as much as mention another stage of life.
About Research
Northwestern Mutual sponsored the reality of American studies to help give an overview of how Americans are handling the economic, political and social changes underway in the United States and what was the impact on the way which they perceive their lives and the future.Independent research firm Mathew Greenwald & Associates conducted the online survey of 1,000 Americans aged 25 years or more between 14 January and 6 January 2009. Study participants were selected from among the members of Survey Sampling International SurveySpot ™ Internet Panel Survey. The survey data were weighted by gender, age and household income to reflect the composition of the U.S. population aged 25 years or more. Population statistics are based on data from the Current Population Survey 2007. A detailed description of the weighting methodology is available upon request. See the full report online.
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company - Milwaukee, WI (Northwestern Mutual) has helped customers achieve financial security for over 150 years. As a mutual over $ 1 billion to protect the life insurance in force, Northwestern Mutual is seeking to share its achievements with policyowners and provide constant and reliable for customers over time.
Northwestern Mutual is an industry leader in total individual life insurance and disability insurance dividends paid to participants policyowners. Although dividends are not guaranteed, are reviewed annually and are subject to change, the company paid dividends from life insurance each year since 1872.
Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions, including: life insurance, long-term care insurance, disability insurance, annuities, investment products and consulting products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, a broker-dealer, registered investment adviser, member FINRA and SIPC, Northwestern Mutual Wealth Management Company, but limited Federal Savings Bank, and north-west of Long Term Care Insurance Company and Russell Investment Group. Further information can be found at http://www.northwesternmutual.com.
This is an information service of Thomson Business Intelligence Service © 2006. This content is only for your personal use, subject to the terms and conditions. No redistribution allowed.
You may also be interested in:
Featured
Argo Pro Announces Argo PROtect for Technology
CHICAGO - (Business Wire) Argo Pro, a division of Argo Group International
Merck sued over patent on allergy drug Singulair
NEW YORK_The battle over the patent on Merck and Co.'s allergy and asthma drug
Aging of the population of the Workers Comp claims and
Copyright: Business Wire Source: Business Wire Wordcount: BOSTON--(BUSINESS
Property/Casualty Insurers Lead In Adapting To Climate
Insurers are showing signs of trying to adapt their business models to issues
Who should pay for accidents aid: Insured or
Apr. 21--Cash-starved fire departments are considering a new way to raise
Court OKs Florida's decision on State Farm rates
TALLAHASSEE, Fla._An appeals court has backed a decision by state regulators
What workers can do before Cuts Are Made
Copyright 2009 Gannett Company, Inc.All Rights Reserved USA TODAY April 7, 2009
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- Insurance Industry Campaign Contributions Lean in Favor of Democrats
- Total Admitted Assets for Top 25 U.S. Life/Health Writers Dr
- Class Action Suit against Nationwide Insurance
- MetLife's Bank Passes Federal Government's Stress Tests
- Indexed Annuity Sales Set A Record For 2Q 2009
- Insurance Department Releases Report on Executive Compensation at State's Largest Blues' Plans
- New York Life’s Top Ratings Affirmed by All Four Major Rating Agencies
- Best Removes From Under Review, Affirms Ratings of Liberty Bankers Life Insurance Company and Subsidiary; Outlook Negative
- Bank BOLI Assets Exceed $126 Billion in 2008
- LIMRA/McKinsey Study Reveals How Life Insurers Can Optimize
-
IRS Rules on Tax Treatments of Life Settlements -
AHIP HSA Survey -
Blue Cross Blue Shield of North Dakota Names von Ebers President, CEO -
Lincoln Financial Group To Pay $ 500 million debt due April -
Matt Lile Surrenders Insurance License After Financial Meltdown of Cosmopolitan Life -
Survey Finds Employers regional health costs up 7.2% -
Employee Benefits Selections "Recession-resistant" since nearly 9 out of 10 workers in the United States plans to maintain or increase coverage for 2010, according to MetLife Open Enrollment -
Service Provides Some Relief for Losses from 'Ponzi' Schemes
Discuss this news
Click Here to see all comments