Nearly 60% of Americans Age 40 to 79 Have Experienced a Life Crisis Such as Job Loss, Divorce, Death of a Spouse or Major Illness or Disability
Women Significantly More Likely to be Affected Both Financially and Emotionally
AARP Financial Inc. President Says Understanding Emotions, Getting Expert Advice Are Critical to Successfully Managing Your Finances in a Life Crisis
AARP Financial Inc. Offers Life Crisis Action Plans and Phone Consultations with Specially-Trained Financial Advisors To Help Manage the Financial Impact of a Life Crisis
TEWKSBURY, Mass., March 31 /PRNewswire/ -- In times of life crisis, family finances may suffer significantly, as many households struggle to make the urgent and crucial financial decisions that are usually required, according to the results of a nationwide survey released by AARP Financial Inc.
More than half (57%) of the 1,200 adults surveyed said they had already experienced a major life crisis such as job loss, divorce, death of a spouse, or serious illness or disability of an immediate family member or themselves, and in the vast majority of cases, the event had a significant impact on their finances.
"The most important financial decisions we face are often precipitated by life crises," said Richard "Mac" Hisey, President of AARP Financial Inc., a taxable subsidiary of AARP. "But given the unpredictable nature of these events, these are often times when we may be distracted, emotionally overwrought and vulnerable. As a result, many of us may make poor decisions -- or take no action at all -- possibly putting our financial security at risk.
"Complicating matters is that it can be hard to find good information and trustworthy advice on financial decision-making in times of life crisis," Hisey added. "As the survey showed, the vast majority of Americans seek financial advice from families and
|SOURCE AARP Financial Inc.|
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