TITLE

Is Your City Fiscally Fit?

PUB. DATE
October 2004
SOURCE
Journal of Financial Planning;Oct2004, Vol. 17 Issue 10, p24
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article reports on the results of finance-related surveys conducted in the U.S. in 2004. Salt Lake City, Utah is the most fiscally fit city in the U.S., according to State Farm Life Insurance. The insurer ranked 50 metro areas based on the percentage of households with investments, good quality of life, and life insurance coverage. The rankings were part of a larger 27-point checkup of consumer personal financial health, which concluded that U.S. citizens fell short on long-term financial planning. Interestingly, the richest of the 50 surveyed cities did a poor job of saving money and protecting assets. Only one of the top ten fiscally fit cities, Minneapolis, Minnesota, was one of the top ten metro areas in median household income. Separately, dreams of an early retirement may be evaporating, according to a national survey of defined-contribution plan participants by John Hancock Financial Services. Nearly 18 percent of respondents said they do not expect to be able to retire until age 70 or older, triple the 1995 survey results.
ACCESSION #
14706797

 

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