Tuesday, Aug. 19, 2014

The top money problems in America (17 items)

By , Deseret News

April 21, 2014

Poll results released by Gallup last week show which financial worries create the most anxiety among Americans.

"Among Americans nationally, several issues, including lack of money, healthcare costs, college expenses, debt, and the high cost of living, cluster at the top of the list of responses," Gallup's Lydia Saad wrote about the poll's results.

Gallup also broke down the poll results by age demographic and income level and not surprisingly, college expenses took top priority among those 18 to 49 and those who make $75,000 or more.

1 of 17. Stock market/Investments

Percent who told Gallup it was their top financial worry in 2014: 1 percent

Percent who told Gallup it was their top financial worry in 2013: 1 percent

Percent who told Gallup it was their top financial worry in 2012: 1 percent

2 of 17. Controlling spending

Percent who told Gallup it was their top financial worry in 2014: 1 percent

Percent who told Gallup it was their top financial worry in 2013: 1 percent

Percent who told Gallup it was their top financial worry in 2012: 1 percent

3 of 17. Utility/Energy costs

Percent who told Gallup it was their top financial worry in 2014: 1 percent

Percent who told Gallup it was their top financial worry in 2013: 5 percent

Percent who told Gallup it was their top financial worry in 2012: 11 percent

4 of 17. Social Security

Percent who told Gallup it was their top financial worry in 2014: 1 percent

Percent who told Gallup it was their top financial worry in 2013: 1 percent

Percent who told Gallup it was their top financial worry in 2012: 1 percent

5 of 17. Interest rates

Percent who told Gallup it was their top financial worry in 2014: 2 percent

Percent who told Gallup it was their top financial worry in 2013: 1 percent

Percent who told Gallup it was their top financial worry in 2012: n/a
1. RockOn
Spanish Fork, UT,
April 22, 2014

Get someone with a) NBA headcoaching experience and b) has been a winner. Karl, Van Gundy for sure. Hollins a maybe. Forget the assistant HCs... you already did that with the last coach. No time for on-the-job training. Time to win.

2. MAYHEM MIKE
Salt Lake City, UT,
April 28, 2014

Markedly absent from the list of Americans' money-worries is what would happen if they died without having properly planned their estates! Would they have enough life insurance or other financial resources to provide for loved ones? For education and care of minor children? Who should be appointed to manage those resources? What about caring for someone with "special needs?" Would relatives or friends be faced with their own financial burden in assuming guardianship of the deceased parents' family? Will poor planning result in "family civil war" as heirs battle over assets and pay unnecessary legal expense? Finally, if one becomes incapacitated, the costs of custodial care can devastate his or her estate in a matter of months.

We all work hard to become financially independent, but, yet, most of us, according to statistics, die without a valid will or, even better, a comprehensive estate plan.

In short, as we plan for lifetime financial security, we should not be oblivious to the need for after-death preparedness.

3. Brer Rabbit
Spanish Fork, UT,
April 28, 2014

So, low income/wages is the number one money problem? That is always the case if you are living beyond your means, and suffer from the affliction of rising expectations. Likely most Americans have already seen the best of times.

Wages are a product of supply and demand. Presently there is a large surplus of labor at both the low income and lower middle income levels, causing wage stagnation, and even wage decline. This is being caused by huge changes in the labor market during the past several decades. Millions of jobs have been lost to, 1) overseas manufacturing, 2)Mechanization, 3) Automation, 4) Huge numbers of legal and illegal immigrant workers flooding into the United States competing for fewer jobs, and 5) Our military super weapons have reduced the need for military personnel.

Women have also entered the labor market at all levels, and global completion has greatly increased. Nothing can be done about these issues with the exception of slowing or stopping the flood of cheap immigrant labor. There is also no reason to continue the explosive population growth, 70 percent of which is due to immigration. Wages won't increase until the labor market tightens.

4. Hutterite
American Fork, UT,
April 28, 2014

Why 17?