Many Americans feel they're moving in the right direction financially, even if they feel the nation as a whole isn't, according to a survey released today by Northwestern Mutual Life Insurance.

The Milwaukee-based company's Planning Perspectives Study, the third leg in its three-part research study, queried respondents about whether they felt their own personal financial status and that of the nation are moving in the right direction in terms of key financial planning categories. Conducted by independent research firm Ipsos, the study indicates that Americans feel more optimistic about their own financial planning and financial health versus how they view the nation's present financial health.

"We're looking at how this all fits against the larger backdrop of what is taking place in America today," said Greg Oberland, executive vice president of Northwestern Mutual.
"What we're seeing is contrasting views about the direction individuals are moving versus the nation."

Key survey findings include:

Debt: Nearly 80% of survey respondents said they are moving in the right direction in the area of managing debt, compared to only 11% who indicated that they feel the same way about the nation.

Education: An estimated 75% of respondents feel that their children's education is moving in the right direction compared to only 19% that said the same about the nation.

Work: An estimated 73% feel they are moving in the right direction in the area of their career compared to 28% that feel the nation is moving in the right direction in the area of jobs.

Spending: An estimated 75% of respondents said their personal spending is moving in the right direction, compared to 13% that said the same about the nation.

Saving: An estimated 66% responded they are moving in the right direction in the area of saving versus only 12% that feel the nation's saving is moving in the right direction.

Health: An estimated 64% feel their health and fitness is moving in the right direction, compared to 23% that responded that the nation is moving in the right direction in the area of healthcare.

Investing in Improvements: 66% of respondents said when it comes to investing in improvements in their lives (e.g., going back to school, making home repairs, etc.) they are moving in the right direction, compared to 25% that feel the nation's investment in infrastructure is moving in the right direction .

The first segment of Northwestern Mutual's three-part research study, entitled Planning & Progress, found that nearly half of Americans surveyed say they take an informal approach to financial planning--if they have a plan at all. An estimated 59% of those surveyed feel their financial planning needs improvement.

The second segment of Northwestern's study, entitled Longevity & Preparedness, indicated that Americans feel that they are startlingly unprepared financially to live to average life expectancies.

"With this year's election cycle keeping financial planning topics in the headlines every day, it's encouraging to see that individuals feel they are moving in the right direction," Oberland said. "What we've also seen suggests that most Americans are still cautious about saving and investing, and many feel financially unprepared to live long lives."