Des Moines, Iowa (April 14, 2003) - In poll results that should be music to advisors’ ears, most investors say the war with Iraq hasn’t impacted their financial strategy, according to a survey sponsored by the Principal Financial Group.
In an early March survey, 49 percent said a U.S. war with Iraq wouldn’t impact their overall financial strategy, while 39 percent said they would cut back on expenses. In a follow-up survey this month, 69 percent said they aren’t changing their financial strategy because of the war, while 23 percent said they’re cutting back on expenses, Principal reported.
What’s more, the vast majority (90 percent) of workers said they haven’t reduced contributions to their defined contribution retirement plans over the last six months, despite the continued weak economic climate.
When asked about their two biggest personal concerns during the current war, long-term financial security (cited by 61 percent) topped respondents’ list, followed by staying employed second (33 percent). Physical safety and security ranked last at 24 percent.
-- WebCPA staff
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