Survey Highlights Concerns Over Financial Future

104

According to a recent Mutual Insights survey by Mutual of Omaha, individuals overwhelmingly express a sense of responsibility for safeguarding their family’s financial future. While prioritizing financial security, many respondents also voiced uncertainty about their ability to achieve it.

Comparing results from March and November, there was a notable increase in respondents rating the protection of their own and their family’s financial future as very important, rising from 63% to 68%. However, the percentage of those feeling they could do more or lacked clarity on where to start also rose from 58% to 62% during the same period.

Mutual of Omaha’s CEO, Poppe, suggests that the financial industry should simplify its products and services for consumers, taking cues from property and casualty insurance companies and technology firms that have successfully streamlined complex offerings.

Poppe emphasizes the importance of aligning individuals’ priorities, starting with promoting adequate savings. This approach extends to discussions about investing and insurance policies, which need to be made more accessible to the average consumer by simplifying language and processes.