According to Country Financial's Security Index, many Americans question their ability to meet long-term financial goals due to rising prices and a changing economy.
More than half of the people surveyed believe that swelling costs may have a negative impact on their plans to buy a home or retire comfortably.
Troy Frerichs, vice president of investment services at Country Financial, said that everyone is concerned about inflation.
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There is a stark difference between the fourth quarter of 2020 and the first quarter of 2022, he said.
We came out of last year in great shape. The findings show that there is now unease about reaching milestones.
Six in 10 Americans are very concerned about inflation, up from 42% in the fourth quarter of 2021, according to the findings.
The first quarter has been more impacted by inflation than the end of the year.
There have been many threats to the U.S. economy. Stock market volatility, surging inflation, and rising interest rates have caused recession fears.
The survey shows that many Americans think it's not possible to buy a home, pay off debt and save for retirement.
Starting a family, buying a car, traveling and investing in the stock market were some of the concerns.
Taking all this into account, we always advocate a long-term view on most things.
It's normal to notice higher prices at the grocery store or gas station, but you're more likely to have an emotional response without a long-term plan.
It's important to consider how growing costs may affect your monthly budget and financial plan.
If someone can’t sleep at night, that’s always a good time to check things out, and to stress test the plan.
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