Kearny Bank released Tuesday the results of its first online Personal Finance Poll — and a “worrisome synergy” appears to be at play, Eric Kesselman, first vice president and director of marketing for Kearny Bank, said.
While it largely depended on the age of those taking the survey, being able to afford retirement was the most significant financial concern of New Jersey residents (27%), while health care (17%) and affordable housing (13%) also remained top issues.
“Our state needs to effectively address the needs of those leaving the workforce, as well as those just entering it, or there could be decidedly negatively economic repercussions,” Kesselman said.
While retirement was the most significant overall concern for those between the ages of 35 and 64, those in the 18 to 34 age range cited the cost of housing as their main issue (20%) while those 65 years and older cited health care as theirs (33%).
Other financial concerns included daily expenses inhibiting one’s ability to save (13%); tuition for education (11%); and the cost of transportation (3%).
The poll collected more than 1,000 responses during the last week of June.
Established in 1884 and currently operating from Fairfield, Kearny Bank is expanding its footprint throughout New Jersey as well as New York City’s Brooklyn and Staten Island boroughs.