Financial Planning Statistics: How Are Americans Doing?

Ben Franklin famously stated: “If you fail to plan, you are planning to fail.”

It seems most Americans are planning to fail.  According to Charles Schwab, only 25% of Americans have a written financial plan.

Here’s how Americans compare to the rest of the world with financial planning.

References:

^{https://www.bloomberg.com/press-releases/2018-05-15/most-americans-don-t-have-a-financial-plan-and-many-think-their-wealth-doesn-t-deserve-one}

^{https://www.cfp.net/why-cfp-certification/career-guide/what-is-financial-planning}

^{https://www.danerwealth.com/blog/you-can-benefit-from-financial-planning}

^{https://www.investopedia.com/terms/f/financialplanner.asp}

^{https://news.northwesternmutual.com/2022-07-27-The-Majority-of-Americans-Say-Their-Financial-Planning-Needs-Improvement,-But-Only-a-Third-Seek-Professional-Help}

^{https://www.forbes.com/advisor/personal-finance/americans-are-draining-their-savings/}

^{https://www.statista.com/statistics/246296/savings-rate-in-percent-of-disposable-income-worldwide/}

^{https://www.census.gov/newsroom/stories/poverty-awareness-month.html#:~:text=Official%20Poverty%20Measure,and%20Table%20A%2D1).}

^{https://worldpopulationreview.com/country-rankings/poverty-rate-by-country}

^{https://www.visualcapitalist.com/ranked-the-best-and-worst-pension-plans-by-country/}

^{https://balancingeverything.com/household-debt-statistics/#:~:text=The%20US%20household%20debt%20to%20income%20ratio%20is%20101%25%2C%20just,income%20ratio%20of%20only%2037%25.}

^{https://www.gfmag.com/topics/news/countries-most-addicted-debt}

^{https://www.usnews.com/news/best-countries/rankings/quality-of-life}