AZ Snapshot: Financial Security

Posted on August 10, 2016 • Category: Well-Being



23rd

Arizona’s national rank for FINANCIAL SECURITY, one of 5 elements measured by the Gallup Healthways Well-Being Index.

STATE OF AMERICAN WELL-BEING: 2015 State Rankings

Gallup Healthways Well-Being Index, January 27, 2016

In April 2016, AZ Snapshot reported that Arizona ranks 9th in the nation on the 2015 Gallup Healthways Well-Being Index. This rank is the result of how people feel about 5 different elements that affect our daily lives. In June, we reported on the high sense of purpose Arizonans feel in their daily lives. This week’s brief focuses on financial security.

WHY IT MATTERS

  • The economic challenges that U.S. workers have experienced over the last decade have changed the way we all think about how we save, invest and plan for the future.
  • 31% of working Americans now foresee working past age 67.
  • Almost half of non-retired Americans (47%) believe they won’t have enough money to live comfortably when they do retire.
THE ARIZONA WE HAVE

Financial security is one of 5 elements that make up the Gallup Healthways Well-Being Index, the most comprehensive set of indicators available that describe how people feel about the quality of their lives. Arizona ranks 23rd in the nation on this element.

ARIZONA INDEX RANKINGS

 

Financial security is measured by responses to 5 questions:

 

Not enough money to buy food – Yes

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In the past 12 months, have there been times when you did not have enough money to pay for healthcare and/or medicines that you or your family needed?

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You have enough money to do everything you want? – Yes

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In the last 7 days, you have worried about money? – Strongly Agree

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Are you satisfied with your standard of Living? - Yes

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2015: Are you satisfied with the educational opportunities available to you? - Yes

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ARIZONA SUCCESS STORIES

The Center is committed to advancing the goals of Arizona citizens and a key part of achieving their goals is recognizing and celebrating the success stories that characterize the state.

This week AZ Spotlight highlights an emerging effort to change the future of Arizonans hoping to reenter the workforce.

Connecting to Careers
What started in a small room in the back of a church is now a growing organization that helps people transition into new careers.

Center for the Future of Arizona, August 4, 2016

OTHER NEWS
37% 18 to 39-year olds in the U.S. now believe that savings accounts and CDs will be a major source of retirement income in the future.
Economic Turmoil Stirs Retirement Plans of Young, Old  

Gallup Analytics, May 3, 2016

 

31% U.S. workers who plan to keep working past the age of 67.
Three in 10 U.S. Workers Foresee Working Past Retirement Age.  

Gallup Analytics, May 13, 2016

 

62% Americans who say U.S. is likely to become a cashless society in their lifetime, with all purchases being made with credit cards, debit cards and other forms of electronic payment.
Most Americans Foresee Death of Cash in Their Lifetime  

Gallup Analytics, July 15, 2016

 

74% U.S. retirees who say they are living comfortably. 47% of non-retired believe they won’t have enough money to live comfortably when they do retire.
Most U.S. Retirees Living Well, but Non-Retirees Unconvinced  

Gallup Analytics, April 29, 2016

 

23rd Arizona’s national rank for FINANCIAL SECURITY, one of 5 elements measured by the Gallup Healthways Well Being Index.
STATE OF AMERICAN WELL-BEING: 2015 State Rankings  

Gallup Healthways Well-Being Index, January 27, 2016