Over half of Americans claim they're nowhere near achieving their definition of financial freedom, with 36% saying they have less than $1,000 in their savings accounts.
Don’t also forget that we’re talking about what people say about their own financial position - which may be different from what their financial position actually is. Self-reporting is never accurate, because people report what they feel or are aware of, which is different from objective facts, to a greater or lesser degree.
Between letting individuals define the terms of the question they’re going to answer, and then self-reporting, this “study” goes beyond useless and into detrimental.
Don’t also forget that we’re talking about what people say about their own financial position - which may be different from what their financial position actually is. Self-reporting is never accurate, because people report what they feel or are aware of, which is different from objective facts, to a greater or lesser degree.
Between letting individuals define the terms of the question they’re going to answer, and then self-reporting, this “study” goes beyond useless and into detrimental.