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“Concerned Strivers” Have Higher Incomes, Find Saving Hard


A new series of consumer surveys from Certified Financial Planner Board of Standards, Inc. (CFP Board) reveals four distinct groups of Americans based on their saving patterns, including one segment that exhibits optimism about their financial futures even while wrestling with the sharp competing interests of saving monthly, paying down debt and meeting retirement goals.

The survey series released by CFP Board explored the saving habits of 1,000 working Americans over nearly three decades old and determined there are four demographics of Americans based on their saving patterns: Concerned Strivers, Stretched Worriers, Confident Savers and Tentative Savers. CFP Board will be releasing three additional reports on the other survey segments throughout the remainder of 2016.

The group, identified as “Concerned Strivers,” consists of Americans in their mid-to-late 30s with above-average incomes and relative optimism about their future financial security, yet they struggle to save money to achieve their financial goals.
Click here to view an infographic of the survey findings for this consumer segment.

In the latest contribution to, CFP Board offers these tips for Concerned Strivers to build financial confidence:

  • Review, reduce and budget household expenses: Set some time aside to categorize your monthly expenses and make a budget that the family can stick with. Ask: are expenses needs or wants? Expenses such as food, clothing and transportation – while necessary – provide some wiggle room in terms of what must be spent on these items. Consider implementing a “family challenge” to get your kids involved to make budgeting and cost-cutting fun.
  • Learn to say “yes” to yourself by saying “no” to your children: As any parent knows, it is tough to deny children what they think they absolutely must have. Yes, you want to give your kids the best start in life that you possibly can, but by saying “no” to your child’s request for something they want, you’ll be able to make larger contributions to your retirement savings. Remember that your children can borrow for their education, whereas your ability to borrow money for retirement is very limited.
  • Reduce credit card reliance: Concerned Strivers report the highest angst about credit card debt among the demographic segments in the CFP Board survey. While credit cards are convenient, it’s important to only use them for financing purchases you cannot pay for immediately and will be able to pay off in a relatively short amount of time.

CFP Board suggests that Concerned Strivers, or those generally interested in reorienting their financial mindset, consider speaking with a CFP® professional, who can help identify the necessary steps to reach long-term financial goals and objectives.

The consumer surveys explored the saving habits of 1,000 working Americans over nearly three decades old, collected during a 20-minute online survey conducted May 13-16, 2016. A summary of the overall survey results can be found at


About the Independent Financial Advisor

Robert Pagliarini, PhD, CFP®, EA has helped clients across the United States manage, grow, and preserve their wealth for the past 25 years. His goal is to provide comprehensive financial, investment, and tax advice in a way that was honest and ethical. In addition, he is a CFP® Board Ambassador, one of only 50 in the country, and a real fiduciary. In his spare time, he writes personal finance books, finance articles for Forbes and develops email and video financial courses to help educate others. With decades of experience as a financial advisor, the media often calls on him for his expertise. Contact Robert today to learn more about his financial planning services.

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