Young adults between the ages of 23 and 28 are more worried about being financially fit than physically fit,
Fifty-two percent said that making better choices about managing money is the single most important issue for Americans today, outpacing the 18% that cited strengthening family relationships and 11% who said protecting the environment is the most critical issue. Only 9% cited improving personal nutrition and health.
In terms of education in school between kindergarten and grade 12, 51% said that financial education is the most important, followed by physical education (31%) and sex education (18%).
This age group is clearly riveted by our weakened economy, said Carrie Schwab-Pomerantz, president of the
Without diminishing the importance of good health, these results are very encouraging and could signal a new era of financial responsibility among American consumers, Schwab-Pomerantz continued.
Twenty-six percent of survey respondents said they were surprised to find out how much it takes to live independently, and only 51% are financially independent from their parents. More than a quarter still live with their parents, and 28% are unemployed.
Twenty-something year-olds interest in finance presents a tremendous opportunity for 401(k) sponsors and administrators, Schwab notes, since only 31% of this age group say they are familiar with their employers financial benefit plans, and 30% arent contributing to their 401(k) plan.