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 The results of my financial survey are in!

The results of my financial survey are in!

I’m always looking for ways to get to know you better, as well as offer education, guidance, and advice that will improve the state of your finances and make it easier to retire.

For that reason, I came up with a 10-question financial survey recently, which I posted here and sent out to my clients, associates, and friends via email.

With plenty of responses (thank you to those who participated!), I was able to crunch the numbers and reveal some interesting things about the average financial situation.

While this is not an exact science or based on a huge sample size, I do think it gives a fair representation of many of us these days – and raises some interesting questions and areas for improvement.

Please browse through these survey results and contact me if you have questions or need some help!

58% of respondents had a net worth of more than $150,000, while 23% had $25k to $75k. More than 17% had a net worth of $25k or less, and almost 12% were worth $10,000 or less!

Almost two-thirds of respondents (64%) had $3,500 or more in checking or savings right now, while more than 17% (about one in six people) had $500 or less in the bank!

Almost 53% said that they’re homeowners, while 47% are renting. Interestingly, the national homeownership rate is about 64% right now.

It’s notable that 47% of respondents believe that they’ll be able to retire EARLY (before 65), while 41% say that they’ll only retire between 65 and 70. Almost 12% of respondents say that they don’t see a retirement at all in their future.

The majority of respondents (58%) say that they’ll need between $3,501 and $5,000 monthly once they retire, which 17% will need more than that and 0% think they’ll be able to get by on less than $2,000 per month.

35% ARE counting on their pension and social security, while 29% are counting on neither. 23% are banking on their pension only and nearly 12% on social security only.

35% of respondents would still be on track to retire if the market lost half of its value tomorrow, 43% would NOT be on track to retire, and 23% have no idea!

This one is split right down the middle, with 47% having long-term care or disability insurance, 47% without it, and almost 6% not sure.

Finally, we asked what the top financial concerns are for our survey respondents. They #1 answer was “Another recession,” followed by “Paying off debt (especially student loans) at #2, and the “Stability of the market” at #3.


How do you compare to these survey averages? Does this highlight some areas where you need help…or are doing exceptionally well? I’d love to review your financial needs and offer my guidance on any of the areas of your retirement plan!

-Jason Matthews

Your Financial Guru