A CUNA Mutual Group survey of middle class households found most are confident of their finances for now, but few believe they will have the means retire and most lack the financial facts to survive an economic upset.
The Madison, Wis., organization polled 1,258 adults in August making $35,000 to $99,000 per year. Nearly two thirds said they were somewhat or very confident about their personal financial situation now, and nearly half thought it was very unlikely they would miss a loan payment in the next one or two years.
"This cautious optimism, however, belies a more troubling financial picture," according to a CUNA Mutual Group news release. More than half of respondents are ill-equipped for an emergency, with 23% saying they have no emergency savings and 30% saying they only have one to three months' worth. Moreover, only 28% expect to retire with financial confidence.
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