Amid economic uncertain times, financial peace of mind competes with other ties in drawing couples together. The study also highlights a continued gap between awareness of financial planning and what actually gets done.

US citizens seek financial security in their personal relationships – a situation fuelled by economic uncertainties - but tend to keep quiet about this side of life, according to a study of attitudes by Merrill Lynch. The study also throws light on major gaps in financial planning and readiness for retirement.

Perhaps in a jolt to certain expectations, some 56 per cent of Americans say they want a partner who provides financial security more than being “head over heels” love (44 per cent). This sentiment is held by both men and women (54 per cent, compared with 57 per cent), whereas Generation Z (born between 1996 and 2010) is the only generation to choose love (54 per cent) over money (47 per cent).

The findings, from the Merrill Edge Report, were drawn from a national, biannual study of more than 1,000 mass affluent citizens.

“Americans are saving money at record rates, and yet we’re seeing people of all ages look to their current and prospective partners to secure their financial futures. Economic uncertainty and a lack of financial planning seem to be creating this burgeoning trend of dependence on others for financial security,” Aron Levine, head of consumer banking at Merrill Edge, said.

Respondents to the study said that they prefer a partner who is career-focused (63 per cent) over socially conscious (37 per cent); frugal (55 per cent) more than philanthropic (45 per cent); and a saver (83 per cent) rather than a spender (17 per cent).

While people look to their partners for financial security, they are tight-lipped when it comes to discussing their own finances. Respondents rank nearly all major relationship milestones ahead of discussing their finances, including meeting the family, being intimate, traveling together and discussing politics.

Respondents mostly admitted rarely talking about the following topics with their partners: debt (60 per cent); salary (57 per cent); investments (55 per cent) and spending habits (51 per cent).

The study also exposed what Merrill Lynch said is an alarming lack of financial planning. Even for retirement, half have no goal in mind. And of those who do have a figure, 79 per cent are aiming low, reporting they are saving for less than $1 million. Americans even think that their planned retirement age will change an average of 15 times throughout their lives.

And while 93 per cent of respondents said that it is important to have a will in place, only 42 per cent have one.

New and emerging technologies may be the solution to planning shortfalls. According to the report, nearly half of all respondents said that social media affects their finances, specifically their spending habits (48 per cent), budget (43 per cent), savings (42 per cent), and bank account (40 per cent).

Respondents are also increasingly embracing artificial intelligence (AI) in their financial lives, with 49 per cent already comfortable with AI providing financial guidance, managing day-to-day finances (49 per cent), and making investments (47 per cent). Many predict that in the next five years, the investment guidance they receive will be primarily via digital channels (74 per cent); mobile trades will be the norm (69 per cent); and less than 20 per cent of trades will occur on the Stock Exchange floor (63 per cent).