Fiscal Beats Physical Resolutions

In its second annual survey on New Year’s resolutions, Allianz Life found that more Americans would rather enlist the help of a financial “trainer” than a physical trainer in 2011.   

The survey asked participants which type of professional service provider they would most like to use in 2011: 44% chose a financial professional, besting the next most popular answer–personal trainer, at 26% of respondents.  However, tradition shows that Americans are notoriously bad at keeping resolutions. When asked which 2011 resolution they are most likely to keep, managing their money better fell just shy of improving exercise/diet, 39% to 40%.

Thirty-three percent of the Allianz Life survey respondents indicated that they will actually include a financial plan in their list of 2011 resolutions. The top response for why they won’t include a financial plan: “I don’t make enough money to worry about it” (34%), followed by plans are either too complex (6%), or too scary (4%).

“People who don’t believe they make enough money to plan for their financial futures are potentially jeopardizing their financial safety and security,” said Katie Libbe, who leads Consumer Insights at Allianz Life. “Regardless of income level, sound financial planning helps ensure that individuals are prepared for life’s events and challenges–and can reduce the uncertainty that surrounds retirement.”