Americans Take Responsibility for Personal Financial Health

Americans believe their financial security is based more on their own actions than government programs, according to a new report from Allstate Corporation released today. “While many Americans are looking to government to provide a more comprehensive safety net…an even larger number places the most emphasis on personal initiative,” says Ronald Brownstein, political director of Atlantic Media Company and presenter of Allstate’s data. Allstate’s Heartland Monitor Poll found respondents believe personal actions will best ensure the ability of Americans to afford health care and save for retirement. Respondents were equally split on whether corporate leaders and businesses or political leaders and government will offer the best ideas and solutions, with both options garnering support from 40% of respondents. The poll also reported 64% of Americans feel today’s economy presents more risks than their parents faced at the same age. This attitude prevailed across all socioeconomic levels, Allstate said. The poll found most Americans view their own situations better than that of their peers – 56% said they were doing a good or excellent job of managing economic risks and opportunities, while 54% rated the abilities of most Americans to manage economic and financial risks and opportunities as merely fair. Brownstein said the survey shows “striking variations” in attitudes based on the extent to which Americans have actually experienced economic reversal, with those that have been the most exposed being most supportive of an enhanced government role. Write to Kelly Curran at [email protected]. Disclosure: The author held no relevant investment positions when this story was published. Indirect holdings may exist via mutual fund investments.

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