- The Washington Times - Monday, January 13, 2020

New research offers the strongest cue yet for battling political parties to call a truce and cooperate with one another. Kiplinger Personal Finance now reveals that typical Americans now consider “political deadlock” to be the greatest threat to the U.S economy.

Kiplinger — which has been forecasting information about personal and business finance since 1920 — ranks “political deadlock” at the top of the list of economy-busting factors, feared by 28% of the respondents in a wide-ranging new survey.

Global trade and tariffs was ranked second on the list, also feared by 28%. “Geopolitical tension” concerned 13%, followed by inflation (10%) and slowing employment growth (8%). Another 13% had a mix of other fears, the poll said.

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Americans who are currently saving for retirement are reasonably confident with the economy at the moment, however. Seven out of 10 say they have a long-term financial plan.

“Only a third (33%) say the market will go lower in 2020 and only 3 in 10 say the U.S. will enter a recession,” the poll analysis said, also noting that a surprising 53% of the respondents have confidence in Social Security. In the case of a volatile stock market, 43% say they are “staying diversified and waiting it out.”

The extensive research also specified other concerns.

• 62% of U.S. adults currently saving for retirement worry about future high health bills.

• 44% worry about running out of money when older, 40% worry about “not having enough money to live.”

• 23% worry about “finding news activities” to fill their time; 22% worry about not getting a regular pay check.

• 16% worry about not being able to retire when they want; 16% check their retirement account daily.

• 15% worry about leaving a job they enjoy; 6 % worry about having to rely on adult children.

Source: A Kiplinger-Personal Capital poll of 850 U.S. adult ages 40 to 70 years, currently saving for retirement conducted Oct. 17-21 and released Friday.

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