- The Washington Times - Tuesday, February 25, 2003

MINNEAPOLIS, Feb. 25 (UPI) — American Express said a new survey on financial stress showed 61 percent of the working Americans it polled indicated they were experiencing moderate to high levels of financial stress.

One quarter of those polled felt that their financial stress had risen in the past 18 to 24 months.

The survey also found financial stress was greatest among those with moderate or lower income levels. Respondents with incomes of under $40,000 were 84 percent more likely than those with incomes of $40,000-$74,999, and 45 percent more likely than those with incomes of $75,000 or more, to have experienced high or extremely high financial stress in the past 18 to 24 months.

AmEx said the increase in financial stress is prompting many workers to look for more assistance with their retirement plan saving and their overall financial situation.

Beyond retirement plan saving, the survey found a wide range of interest in advice on financial matters. More than half indicated an interest in comprehensive financial advice, advice on choosing among plan investment options, accumulating money for retirement and using saved money for retirement income.


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