A MetLife study of the “American Dream” (this is their second such study) reveals key attitudes of Americans in general and of Baby Boomers and older about the current state of the economy.
Overall, the study found that Americans are pretty gloomy about finances, revealing that more than nine in ten people (with the exception of members of the “Silent Generation”) believe that they have to work as hard as or harder than ever just to get by. This represents 93 percent, up from 87 percent from the last study.
On the other hand 85 percent of Americans expect their own financial situation to stay about the same this year or get better, compared with last year. Plus, more than one-third, or 37 percent, of those surveyed believe they have achieved the American Dream (most define that as “financial security”).
Baby Boomers are a bit more optimistic, with 40 percent reporting that they have achieved the American Dream - up by 8 points.
MetLife believes that the new study shows that Americans, across the generations, are taking their futures into their own hands, citing increased interest in creating their own personal safety net; their desire for employers to provide benefits but also advice; and a high level of engagement with the 2008 Presidential election.
More about the study at TradingMarkets.com and at MetLife.
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