According to survey results reported by Investment News, a quarter of potential investors have no financial plan and, of that group, close to 40% don’t anticipate building one. The Center’s Director of Investments Melissa Joy told Investment News that she wasn’t surprised by those numbers.
If anything, I would think the number might have been higher,” she said of people who don’t have a financial strategy. “Financial planning isn’t a new concept like it was 20 years ago. I’m happy to hear that so many people do have a financial plan in place."
On one hand, there are the duck-and-cover investors, on the other are investors who become too complacent when the markets are rosy. That’s how Melissa described those who pay too much attention to events like the government shutdown and those that miss opportunities when the markets are strong. But ultimately, it isn’t usually a market surge or fall that triggers people to put together a financial plan, Melissa said. The most common triggers are life events. It could be preparing for retirement or helping to support an aging parent that drives investors to formalize a strategy for their assets.
If you need help with your plan, contact us here at the Center. To read more about the investor survey check out the article in Investment News:
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