Americans' Insecurity About Financial Health.

• Position: Brief Article - Statistical Data Included

Oil prices are up. Stock prices are down. Early signs of slower tech growth exist. What does this changing economic environment mean for Americans and how they are feeling about their finances? A study commissioned by the Personal Financial Specialist Credential and Exam Committee of the American Institute of Certified Public Accountants (AICPA) shows that two-thirds of the respondents feel insecure about their financial health.

The online survey, conducted by Harris Interactive, polled 636 people across the U.S. between the ages of 18 and 55 with annual incomes above $75,000. Respondents indicated that personal finances are a top priority, as 71% have devoted more time in the last two years to thinking about them. Eighty-one percent are not positive that they are maximizing their money, while just 20% think that they are very prepared for retirement.

Sixty-four percent of those who believe they are maximizing their money do so because they have money invested in mutual funds that they researched on their own. However, the survey also showed that almost 90% of the respondents have lost money over the last five years because of quick financial planning decisions made without consulting a financial expert. Additionally, 57% of...