Americans' confidence in achieving a secure retirement and their optimism about the country's financial future have declined significantly during the past five years, according to a new report.
Ameriprise Financial, based in Minneapolis, Minn., published this finding in a summary of results from a study ("Money Across Generations II") that explores how the changing financial needs and attitudes of each of three generations— baby boomers, their adult children and their aging parents—have altered their relationship with money and with each other.
The report reveals that about half (49 percent) of boomers say they are optimistic about the financial future of the United States, down from two-thirds (64 percent) of those surveyed for an earlier iteration of the study published in 2007. Only 17 percent of boomers say they "very optimistic" about their own financial future— a significant decline from 2007 when 39 percent reported the same.
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