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Annual Fidelity Study Shows financial resolutions are on the decline!
2014 was a good year for many Americans, with the stock market soaring to new highs and the unemployment rate moving below 6%. Financial confidence appears to be growing! So why are so many Americans complacent when it comes to their financial health?
In its sixth annual New Year Financial Resolutions Study, Fidelity Investments finds only 31% of Americans are considering making a resolution to change their financial situation, compared to 43% in the past year. So if things are going well, is this decline significant? Yes, according to the survey: now is not the time to take your foot off the pedal, and there are important reasons to make financial resolutions – all of which involve your financial well-being.
In this interview, Ken Hevert, vice president of Fidelity Investments will share insights as to why making financial resolutions has declined, how making financial resolutions can benefit your sense of financial well-being, what the top three financial resolutions are this year (i.e. save more, pay off debts, spending less), what the real advantages are to making them, and important, easy steps to keeping resolutions and making them happen in the New Year!
About KEN HEVERT: Ken Hevert is vice president of retirement products at Fidelity Investments, the No. 1 provider of workplace retirement savings plans and Individual Retirement Accounts (IRAs). In his position, Ken leads a team responsible for managing the IRA offering from Fidelity®.
Station Note: This interview is provided by Fidelity Investments