Americans are experiencing their highest levels of personal financial satisfaction in more than 10 years, according to the American Institute of CPAs. The AICPA's second quarter Personal Financial Satisfaction Index said stock market gains, more job openings and a decrease in inflation from the first quarter drove personal financial satisfaction to a high not seen since the fourth quarter of 2006.
The PFSi is calculated as the difference between the Personal Financial Pleasure Index minus the Personal Financial Pain Index. The pleasure part of the index set a record for the third consecutive quarter, clocking in at 66, up 1.4 points from the first quarter and 5.6 points from a year ago.
The pleasure index comprises four equally weighted factors that measure the growth of assets and opportunities. The Market Index has been the biggest contributor to the pleasure index for several years, setting a new record in the first quarter of this year.
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