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Lesko: How Good Feelings Gap Affects Your Bottom Line

By Fox 40 Staff.
Jason: Most Americans are still worried about money, even though the economy is improving. Greg Lesko of Lesko Financial talks about this "good feeling gap." Greg.

Greg: Thanks Jason. A recent Gallup poll found a majority of Americans still worry about two big money issues: whether they'll have enough to retire and whether they can pay medical costs for an accident or illness.

Other concerns included: paying the mortgage or rent, maintaining their standard of living, and paying off credit cards. These worries persist, despite a strengthened economy, better job numbers, and lower prices at the pump than a year ago.

Jason: Is it because the recovery hasn't reached them, personally?

Greg: Yes, some of these worries will lessen as the effects of the better economy ripple through people's day-to-day lives. But some of it might be blamed on the way financial news gets reported.

When people are happy and things are good, it rarely makes headlines.
Journalists and readers tend to gravitate towards interesting stories such as financial problems overseas or articles about baby boomers who can't afford to retire.

The news isn't the problem; it's the sense of helplessness some negative news tends to create.

Jason: Is there a remedy?

Greg: It might help to not view the complicated financial world as this big overwhelming force you can't control.

Your own financial health and well-being is much more dependent on small decisions you make in your own life everyday: how much you spend or save, How you handle debt, and whether you invest and successfully build wealth.

Gaining a sense of mastery over the financial things you can control could be your antidote to worry.