Only one-third of Americans consistently take action after receiving financial advice, according to the latest TIAA-CREF study. Despite the lack of action among so many, nearly half of all surveyed admitted they worry about their long-term financial futures.
The survey, which was taken by an independent research firm, polled a random sample of more than 1,000 adults nationwide about their attitudes, preferences and behaviors relating to financial advice.
"The fact that people are not consistently acting on the advice they receive comes as no great surprise. People are all too often inundated with information telling them to save more, cut costs and plan for retirement, but how you go about that differs for every person," said James Nichols, senior managing director, advice and planning services at TIAA-CREF. "At TIAA-CREF, we recognize that when it comes to personal finance, one size does not fit all."
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