
Infographic: Money Matters
To navigate the waters of personal and business finance, we must first understand the money habits of the average American.
Let’s take a look at the results from CMI’s 2022 Financial Health Survey.
A full report of CMI’s 2022 Financial Health Survey will be released next quarter. Sign up now to be placed on the early release list!
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Infographic Transcript
MONEY MATTERS
UNDERSTANDING AMERICA’S FINANCIAL HEALTH
CMI’s 2022 Financial Health Survey provides a snapshot of consumers’ behavioral and attitudinal trends associated with personal finance.
FINANCIAL WOES
- Feel their financial situation has become worse over the last year – 46%
- Are very concerned about their level of debt – 41%
- Have financial problems they don’t know how to solve – 38%
SAVING & INVESTING
TOP METHODS OF SAVING
- 56% Savings Account
- 47% Checking or Money Market
- 27% Retirement (e.g., 401k, IRA)
37% Consider themselves to be a knowledgeable investor
51% Put all their $ in checking & savings accounts because they don’t understand different types of investments
58% Avoid investing all together because they are afraid of losing a lot of $
RETIREMENT
4/10 cannot save for retirement because there is no $ left after daily expenses
17% contribute less to their 401k plan than they did pre-pandemic
35% feel they will need to work longer than they originally planned to retire
21% feel they will never have enough $ to retire
Retirement Age
- 21% Never
- 32% Before 60
- 36% Between 60-69
- 11% 70+