One Telling Stat Illustrates Americans' Money Worries

Nearly 8 in 10 in 'WSJ' survey aren't confident their kids will be better off than them
By John Johnson,  Newser Staff
Posted Mar 28, 2023 9:39 AM CDT
One Telling Stat Illustrates Americans' Money Worries
Stock photo.   (Getty/ArLawKa AungTun)

A new poll offers a snapshot of how Americans are feeling about their financial security, and the mood isn't a pleasant one. Maybe the most telling stat from the survey by the Wall Street Journal and the National Opinion Research Center:

  • 78% of respondents say they're not confident their children will have better lives than they do. As the Journal notes, that's the highest figure since the survey began asking the question in 1990, and it's almost double what it was back then.

As Insider points out, the sour mood in the poll is in keeping with a Gallup survey last month that found half of Americans consider themselves worse off financially than last year. It's only the second time in the Gallup poll's decadeslong history that at least 50% of Americans say their financial security went backward. The Journal poll similarly found that 44% of Americans say their financial situation is worse than they expected for their stage of life, and only 30% say they and others like them have a good chance of improving their standard of living. That strikes a NORC researcher as an "intractable level of pessimism." (More personal finance stories.)

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