Some Feathers for Your Nest Egg
"What good is the warmth of summer without the cold of winter to give it sweetness?"
This week, the stock market began with a decline, which can be typical in September. Call your financial planner if you have money you'd like to invest, or if you have any concerns.
As a volunteer for the Certified Financial Planner (CFP) Board of Standards, I want to let you know about an interesting set of research they've undertaken about us investors. Analysis shows four discrete segments of respondents. Each of us, in broad strokes, have similar views on money management, retirement savings, and our financial outlooks.
Washington, DC, September 6, 2016--A new national survey released this week by Certified Financial Planner Board of Standards, Inc. (CFP Board) shows that Americans are trying to save despite having many other competing financial interests. At the same time, the survey reveals that some Americans are feeling optimistic about their financial futures, even with uncertainty about their own finances.
Notable findings of the summary include:
* Nearly half (48%) "don't always have enough money left over to save after bills";
* More than a third (35%) of Americans have seen a significant decrease in household income;
* A little over a third (34%) say that debt prevents them from saving;
* Only half (51%) save money regularly on a monthly basis;
* 35 percent of Americans utilize the services of a financial professional;
* Roughly 1-in-3 Americans (30%) has experienced a job change in the past three years, and 1-in-5 (20%) has experienced a major medical expenditure;
* Half of Americans (51%) believe credit card debt is the most important debt to pay off, followed by mortgages (one-third, 36%) and student loan debt (19%); and
* More than one-third (36%) of Americans anticipate working in retirement.
"At the heart of all money issues, saving a little for the future by deferring a little pleasure today, remains the most difficult task to do and, perhaps the most important. Like a player needs a coach to show him what he can do better, we all need a financial planner to guide us with our money decisions," says Karl Frank.