February 2005
Journal of Financial Planning;Feb2005, Vol. 18 Issue 2, p20
Academic Journal
This section presents statistical data related to the financial planning and financial services industry in the U.S. as of February 2005. 1 out of every three adults say they are not living the American Dream. 2 out of every adults say the American Dream is getting harder to achieve. 2004 is the year that total number of credit cards, debit card, and other electronic payment transactions first exceeded the number of paper-check transactions. 780 is the effective annual interest rate charged by some Internet payday lenders. An estimated 4.9 percent average annual rate investments will grow in the next five years for people with $1-$5 million in investable assets, versus a 9.2 percent rate in 2004. There are 12 mutual funds currently being established to invest in artwork. 1.31 is the average expense ratio per 401(k) participant with a $40,000 account balance for a firm with 100 employees. There are 850,000 low-income college students eligible for Pell Grants who didn't apply. 2,524 is the average cost, in dollars, per month in 2004 for assisted living, versus $2,379 in 2003.


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