April 2004
Journal of Financial Planning;Apr2004, Vol. 17 Issue 4, p25
Academic Journal
This section presents several facts and figures on financial planning in the U.S. According to the U.S. Census Bureau, there are 46 percent of U.S. residents age five and older who moved between 1995 and 2000, half of them to a different county. The monthly gross income percentage which an average consumer spends on car payments, according to Edmunds.com, is 11 percent. CardWeb.com reports that the number of cards, including bank and retail cards, carried by the average U.S. credit card user is 8. The increase in average percentage published expense ratios of the 30 largest retail mutual funds if hidden expenses were included, according to a newspaper is 43 percent. U.S. citizens annually spend $31 billions of dollars on their pets, versus $17 million in 1994, according to "Rocky Mountain News." According to Hewitt Associates, the percentage of employees taking 401 (k) plan distributions in 2002 who cashed out of their plan when changing jobs was 42 percent. MetLife claims that the percentage of households with children under age 18 that live paycheck to paycheck is 57 percent. 34 percent of households with income over $75,000 live paycheck to paycheck according to MetLife.


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