Investors Uncertain, But Saving and Budgeting More
Nearly half of affluent investors expect today’s economic uncertainty not only to continue, but also to be “more of a permanent reality,” according to the latest Merrill Lynch Affluent Insights Survey. Despite these fears, 35% of the survey’s respondents believe their financial situation will improve next year and 41% expect it to remain about the same.
Gender played a role in the level of optimism. Men were more likely to believe their financial situation will improve next year than women (43% to 28%). Similarly, among those who weren’t expecting their financial situation to improve next year, 68% of women said the ongoing market volatility would play a role, versus 54% of men.
Many affluent investors said they are taking actions to better control their finances, however. One-third of the survey’s respondents said they are living more within their means. Similarly, 32% are more vigilantly sticking to a budget. About 30% consulted their spouse more often when making financial decisions.
...To continue reading this article you must be registered with AAII.
Already registered with AAII? Login to read the rest of this article.
to read this article and receive access to future AAII.com articles.