Many Americans see silver lining in tough times

Posted on: Thursday, February 21, 2013

Even though many Americans are in trying situations, such as providing for an adult child, caring for a sick parent or living paycheck to paycheck, it may be surprising for insurance agents to learn that they're quite optimistic about their fiscal health.

According to a recent poll conducted by Allstate Financial, approximately 50 percent of consumers say they have money at the end of the month after all their bills and expenses have been paid off. In addition, approximately 40 percent of adults say they rely on their next paycheck to get by.

Yet despite these challenges, a considerable number of Americans are able to separate it from how they feel about their future economic health. The survey found that 91 percent of respondents described themselves as confident that they could handle their personal finances, such as paying off student loans, car payments and the ability to purchase a new home.

A separate study similarly highlighted consumers' optimistic sentiments. Polling firm Harris Interactive discovered that roughly one-quarter of baby boomers - or those between 55 and 66 years old - say that they have or are currently financially supporting their adult child, while 20 percent say they are providing for their elderly parents.

Nevertheless, one-fifth of respondents say that their financial situation is "excellent" with just under two-thirds describing it as "good" or "average."

"In the past few years, many baby boomers have made drastic changes to their plans for their families, retirement and savings," said Jackie Warrick , senior savings advisor at "As the economy continues to recover, though, baby boomers are making the best of a tough situation by staying positive and making an effort to save money as best they can."

Agents may want to complement their insurance customers' positivity with recommendations deemed suitable or fitting to their current situation.

Posted In: Insurance News, Sales Techniques

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