MassMutual State of the African American Family: Survey Questions.

To understand the changing landscape of American financial security, Massachusetts Mutual Life Company (MassMutual) commissioned the third wave of a nationally representative survey of American Families*, including that of African American families. By answering the following survey questions, you will share your views on key topics covered in the research.

Black Enterprise and MassMutual would like to hear from you.

*The "State of the American Family" survey was conducted for MassMutual by the Forbes Consulting Group, LLC between February 4th and February 25th, 2013 via a 20-minute online questionnaire. This is a sampling of the questions asked in the full survey.

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* 1. How do you define financial security? (Please check all that apply)

Having just enough money to pay your bills on-time

Having enough money to pay your bills on-time and save for a rainy day

Having at least 3 months of expenses saved

Having enough money to set aside for retirement

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* 2. Which of the following best describes the amount of money you have set aside specifically for any kind of financial emergency (i.e., losing employment, becoming disabled, etc.)

None

Less than 3 months of my monthly expenses

3-6 months of my monthly expenses

More than 6 months of my monthly expenses

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* 3. Are you actively contributing to a retirement fund (401(k)/403(b); IRA, etc)?

Yes

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* 4. Using a scale of 1 to 7 where 1 means you “disagree completely” and 7 means you “agree completely”, please indicate how much you agree or disagree with each of the following statements..

	1	2	3	4	5	6	7
I'm satisfied with my current financial situation	I'm satisfied with my current financial situation 1	I'm satisfied with my current financial situation 2	I'm satisfied with my current financial situation 3	I'm satisfied with my current financial situation 4	I'm satisfied with my current financial situation 5	I'm satisfied with my current financial situation 6	I'm satisfied with my current financial situation 7
I want to be actively involved in all decisions regarding my finances.	I want to be actively involved in all decisions regarding my finances. 1	I want to be actively involved in all decisions regarding my finances. 2	I want to be actively involved in all decisions regarding my finances. 3	I want to be actively involved in all decisions regarding my finances. 4	I want to be actively involved in all decisions regarding my finances. 5	I want to be actively involved in all decisions regarding my finances. 6	I want to be actively involved in all decisions regarding my finances. 7
Investing and financial planning should be a higher priority for me.	Investing and financial planning should be a higher priority for me. 1	Investing and financial planning should be a higher priority for me. 2	Investing and financial planning should be a higher priority for me. 3	Investing and financial planning should be a higher priority for me. 4	Investing and financial planning should be a higher priority for me. 5	Investing and financial planning should be a higher priority for me. 6	Investing and financial planning should be a higher priority for me. 7
I should be doing more to save for the future but right now I’m just struggling to get by.	I should be doing more to save for the future but right now I’m just struggling to get by. 1	I should be doing more to save for the future but right now I’m just struggling to get by. 2	I should be doing more to save for the future but right now I’m just struggling to get by. 3	I should be doing more to save for the future but right now I’m just struggling to get by. 4	I should be doing more to save for the future but right now I’m just struggling to get by. 5	I should be doing more to save for the future but right now I’m just struggling to get by. 6	I should be doing more to save for the future but right now I’m just struggling to get by. 7
It’s important that we educate our children on finances to ensure a strong economy in the future	It’s important that we educate our children on finances to ensure a strong economy in the future 1	It’s important that we educate our children on finances to ensure a strong economy in the future 2	It’s important that we educate our children on finances to ensure a strong economy in the future 3	It’s important that we educate our children on finances to ensure a strong economy in the future 4	It’s important that we educate our children on finances to ensure a strong economy in the future 5	It’s important that we educate our children on finances to ensure a strong economy in the future 6	It’s important that we educate our children on finances to ensure a strong economy in the future 7
I struggle deciding whether to save for retirement or my children’s college education	I struggle deciding whether to save for retirement or my children’s college education 1	I struggle deciding whether to save for retirement or my children’s college education 2	I struggle deciding whether to save for retirement or my children’s college education 3	I struggle deciding whether to save for retirement or my children’s college education 4	I struggle deciding whether to save for retirement or my children’s college education 5	I struggle deciding whether to save for retirement or my children’s college education 6	I struggle deciding whether to save for retirement or my children’s college education 7
I wish my parents taught me more about money	I wish my parents taught me more about money 1	I wish my parents taught me more about money 2	I wish my parents taught me more about money 3	I wish my parents taught me more about money 4	I wish my parents taught me more about money 5	I wish my parents taught me more about money 6	I wish my parents taught me more about money 7
I am actively involved in educating my child(ren) on finances	I am actively involved in educating my child(ren) on finances 1	I am actively involved in educating my child(ren) on finances 2	I am actively involved in educating my child(ren) on finances 3	I am actively involved in educating my child(ren) on finances 4	I am actively involved in educating my child(ren) on finances 5	I am actively involved in educating my child(ren) on finances 6	I am actively involved in educating my child(ren) on finances 7
I wish there were more resources/programs available to educate children on finances	I wish there were more resources/programs available to educate children on finances 1	I wish there were more resources/programs available to educate children on finances 2	I wish there were more resources/programs available to educate children on finances 3	I wish there were more resources/programs available to educate children on finances 4	I wish there were more resources/programs available to educate children on finances 5	I wish there were more resources/programs available to educate children on finances 6	I wish there were more resources/programs available to educate children on finances 7
I rely on my friends and family to help me make financial decisions	I rely on my friends and family to help me make financial decisions 1	I rely on my friends and family to help me make financial decisions 2	I rely on my friends and family to help me make financial decisions 3	I rely on my friends and family to help me make financial decisions 4	I rely on my friends and family to help me make financial decisions 5	I rely on my friends and family to help me make financial decisions 6	I rely on my friends and family to help me make financial decisions 7
It’s important to me that my children aren’t burdened by taking care of me when I’m older	It’s important to me that my children aren’t burdened by taking care of me when I’m older 1	It’s important to me that my children aren’t burdened by taking care of me when I’m older 2	It’s important to me that my children aren’t burdened by taking care of me when I’m older 3	It’s important to me that my children aren’t burdened by taking care of me when I’m older 4	It’s important to me that my children aren’t burdened by taking care of me when I’m older 5	It’s important to me that my children aren’t burdened by taking care of me when I’m older 6	It’s important to me that my children aren’t burdened by taking care of me when I’m older 7
When making financial decisions, I always think about what would be best for my immediate family	When making financial decisions, I always think about what would be best for my immediate family 1	When making financial decisions, I always think about what would be best for my immediate family 2	When making financial decisions, I always think about what would be best for my immediate family 3	When making financial decisions, I always think about what would be best for my immediate family 4	When making financial decisions, I always think about what would be best for my immediate family 5	When making financial decisions, I always think about what would be best for my immediate family 6	When making financial decisions, I always think about what would be best for my immediate family 7
I have to admit, I spend more time planning for family vacations than I do planning for my financial future	I have to admit, I spend more time planning for family vacations than I do planning for my financial future 1	I have to admit, I spend more time planning for family vacations than I do planning for my financial future 2	I have to admit, I spend more time planning for family vacations than I do planning for my financial future 3	I have to admit, I spend more time planning for family vacations than I do planning for my financial future 4	I have to admit, I spend more time planning for family vacations than I do planning for my financial future 5	I have to admit, I spend more time planning for family vacations than I do planning for my financial future 6	I have to admit, I spend more time planning for family vacations than I do planning for my financial future 7

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* 5. Of the following, which would you consider to be your top financial priority?

Paying off my mortgage

Getting out of credit card debt

Developing a plan for managing income in retirement

Saving/investing for college education for your kids/grandkids

Making sure my family will be taken care of financially if I die

Developing a monthly budget

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* 6. What is your gender?

Male

Female

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* 7. What is your age?

18 – 24

25 - 32

33 – 47

48 – 64

65 years and over

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* 8. Which of the following best describes your marital status?

Single, never married

Married

Have a domestic partner

Separated

Divorced

Widowed

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* 9. Do you have any children for whom you are financially responsible?

Yes

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* 10. What is your total household income?

Rather not say

Under $50,000

$50,000-$74,999

$75,000-$99,999

$100,000 - $149,999

$150,000 - $199,999

$200,000 or more

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* 11. What is the highest level of education you have completed?

high school graduate

trade/technical/vocational training

college graduate

post graduate degree

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* 12. Would you like to be contacted by a local MassMutual financial advisor for assistance in addressing some of your financial concerns?

Yes, please enter your contact information below