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Stocks to Savings to Seeking Financial Advice: Insights into American Money Management Trends
In our Logica Future of Money Study released last quarter, we found key trends in how Americans were managing their finances amid changing economic conditions. At the time, many were focused on getting advice about retirement accounts and optimizing their investments for long-term security. Our study showed that 41% of Americans were investors, with assets ranging from stocks and bonds to mutual funds and even cryptocurrencies. However, economic uncertainty was leading 31% of people to reduce their investments and 28% to focus more on saving for short-term security.
Interestingly, the insights showed that 26% of Americans were currently working with a financial advisor. In the coming year, many will seek advice on how to select investment options that align with their financial goals (36%), how to maximize their 401(k) (33%), and how to know the best times to buy and sell investments (31%).
As economic uncertainty continues, we expect these trends to continue. We will be learning more in the upcoming wave of our ongoing Logica® Future of Money Study. To get on the list for an alert when it comes out, email us at engage@logicaresearch.com.
Download the Highlight Report from the Logica Future of Money Study to learn more about money management and how to access the Future of Money Insights Kit
Related: The Future of Payments: How Americans Are Ditching Cash for Digital