It's important for a financial professional to understand what makes your family unique. The more they understand you, the better they can help you prepare for the future. Allianz commissioned the LoveFamilyMoney study to help financial professionals better understand how evolving family structures are changing Americans' relationship with money and financial planning.
As you've likely experienced with your own family over the years, shifting demographics and profound attitudinal changes have helped redefine the concept of "family" for many Americans. As a result, financial professionals need to be aware of these changes so that they can more effectively help clients like you work toward your financial goals.
LoveFamilyMoney found that modern families celebrate their supportive family dynamics. They trust each other, are cooperative, and are willing to work together for the common goal. They also maintain open lines of communication.
Feelings of vulnerability
On the other hand, study responses indicate that the middle class is a very vulnerable place to be and 23% of respondents reported that they are not saving any money at all.
Need for a financial professional
Our study also found that only half (51%) of today's modern families believe they are on track to achieving their financial goals. Many of them (76%) worry about running out of money in retirement. Less than half (43%) of modern families have worked with a financial professional.
A history of strength
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