The survey, commissioned by the Personal Financial Specialist Credential and Exam Committee of the American Institute of CPAs, polled 636 people in the United States over age 18 with annual incomes of at least $75,000.

The online survey, conducted by Harris Interactive between Sept. 27 and Oct. 2, showed that two-thirds of those surveyed are wary when it comes to their financial well-being.

Of those surveyed, 71 percent said they have spent more time in the last two years mulling over their finances. And 81 percent are not certain they are maximizing their money, while a meager 20 percent think they are ready for retirement.

In addition, 64 percent of those who believe they are maximizing their money give credit to money they invested in mutual funds that they researched on their own. On the other hand, a whopping 90 percent of those polled said they lost money in the past five years because they did not consult a financial expert before making financial planning decisions. And more than half (57 percent) said they are not sure they know how to minimize their taxes.

How many are handling their own finances? According to the survey, 91 percent of Americans manage their own finances. And nearly 70 percent rely on their family and friends for financial planning advice.

-- SmartPros News Staff

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