If you’re like 84% of Americans1 dealing with the ongoing pandemic, you’ve learned to let go of what you can’t control. As the new year kicks off, you may be wondering how your top personal and financial goals stack up with others in the U.S.
Top Three Personal Goals
A lot of us juggle a remote job and family, while others deal with stress from working on the frontlines. Retirees who envisioned travel as a hobby may be staying put for now. No matter what your situation is, it’s no surprise that the top three personal goals for 2022 center around physical and mental well-being.
Top Three Financial Goals
Financial resolutions are very pragmatic for individuals as 2022 kicks off: pay off debt, spend less and save more. Among those with savings goals, more than half want to focus on long-term goals, such as retirement and health care, while 49% plan to focus on short-term goals like shoring up emergency savings. Notably, 62% of people who are age 18-35 plan to increase their retirement contribution in 2022.1
Top Three Financial Concerns
We’ve all felt the squeeze of inflation when we buy gas, groceries, clothes and cars. And we’ve all been there—an unexpected health care expense or house-related cost, like a new air conditioner, require us to dip into savings. Inflation, unexpected expenses and ongoing pandemic concerns are top of mind for 2022.
Putting Your Resolutions to Work
Whether it’s a personal or financial goal, we all know the drill—creating goals that are specific but attainable help keep us on track and motivated to stick with what we set out to do.
We’re Here to Help
At Kona Financial Planning, we’re here for everything life brings your way. And we’ll help you create a wealth plan that includes liquidity so you have savings available when needed, plus a mix of other assets to help you reach your short- and long- term goals.
Source:
Fidelity 2022 Financial Resolutions Study
The impact of COVID-19, and other infectious illness outbreaks that may arise in the future, could adversely affect the economies of many nations or the entire global economy, individual issuers and capital markets in ways that cannot necessarily be foreseen. The duration of the COVID-19 outbreak and its effects cannot be determined with certainty.
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