While many Americans say the pre-recession economy's gone for good, nearly two-thirds believe they can meet their financial goals. That's according to the latest survey by Bloomington-based Country Financial of at least 3,000 people. When asked what would make them more financially secure, 26 percent say a bigger paycheck, but Troy Frerichs, senior investment officer at Country, says nearly as many people named something else:
"About an equal percentage saying a higher paying job, and then the same amount saying taking care of our national debt issue. So you definitely have a bigger macro longer term US picture weighing on near term national confidence."
Frerichs says lingering high unemployment is still a problem that affects peoples confidence because it hits close to home. Still, Frerichs says, Gross Domestic Production's at an all time high, and it appears the nation's headed in the right direction economically. The depth, and prolonged nature of the recession appears to have eroded confidence. He says this is a good time to re-define your financial security and plan for the "New Economy," which has yet to be defined.
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