American Dream Insights – January 2016

zmclvbi9xx4-joshua-earleBe curious always. For knowledge will not acquire you; you must acquire it.

quote attributed to: Sudie Back

EXECUTIVE SUMMARY

Xavier University’s American Dream Composite Index™ (ADCI) measures the extent to which people living in the United States achieve the American Dream. The ADCI is based on a random sample of no fewer than 1,000 adults who are surveyed online each month, with at least 400 respondents recurring from the previous month.

The monthly samples are representative, based on the most recent 2010 U.S. Census, of adults living in the U.S. Demographics capture age, income, ethnicity/race, gender, level of education, state/region of residence, marital status, homeowner status, and employment status.

Periodically, the team at Xavier University includes a few additional questions to better understand how residents sentiment on timely topics. The data is shared with The Burghard Group for subsequent publication. It is our hope you will ideally find these data actionable or at least interesting.

For perspective, the January 2016 survey has 1,150 respondents. Note, percentages are rounded to the nearest tenth as a result (where relevant) published totals may not equal 100.  Also note, not all response are provided (for example the numbers for people who do not do their own taxes).  I provided the responses I thought would interest you the most.

RESEARCH FINDINGS

When it comes to my budget for this most recent holiday shopping season, I was:

Percent that were “on budget”.

Millennial (18%), Gen X (24%), Boomer (29%), Greatest Generation (38%), Overall (28%)

Percent that were “over budget”.

Millennial (22%), Gen X (15%), Boomer (9%), Greatest Generation (11%), Overall (13%)

When it comes to the stock market, by the end of 2016, I believe it will be:

Percent that project “up considerably”.

Millennial (15%), Gen X (7%), Boomer (4%), Greatest Generation (3%), Overall (6%)

Percent that project “down considerably”.

Millennial (6%), Gen X (14%), Boomer (15%), Greatest Generation (13%), Overall (13%)

When it comes to doing my taxes:

Percent that “do their own taxes without help”.

Millennial (25%), Gen X (31%), Boomer (21%), Greatest Generation (23%), Overall (25%)

Percent that “use a software application”.

Millennial (38%), Gen X (29%), Boomer (26%), Greatest Generation (30%), Overall (29%)

Percent that “use a professional”.

Millennial (26%), Gen X (31%), Boomer (38%), Greatest Generation (33%), Overall (33%)

Acknowledgment

I’d like to thank Xavier University for their generosity in providing Strengthening Brand America readers free access to these data. I hope you take an opportunity to visit the Xavier University American Dream website to learn more about the research study and methodology. I am certain it will reinforce your confidence in the data reliability. I also hope you consider, as a quid pro quo, sharing the www.strengtheningbrandamerica.com website with colleagues. My goal is to share the website with as many people as possible who might benefit from the educational information.

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