By Valder Beebe
In America, 10,000 million Baby Boomers retire daily and many are not financially prepared for a second-act.
Edward Jones is a financial services firm headquartered in St. Louis, Missouri, United States. It serves investment clients in the U.S. and Canada, through its branch network of more than 14,000 locations. According to financial services firm Edward Jones’ survey, Relationship with Money, while 81% of Americans say they feel in control over their current financial situation, they admit a mix of emotions when it comes to their money. Only 21% of respondents reported that they feel happy when thinking about saving money while feeling overwhelmed, anxious and, ironically, confident tied as the second-highest emotions, all at 16%.
The survey also found a gap between respondents’ intentions and their actions when it comes to short-term vs. long-term saving and investing. When asked what they would do if someone gave them $1,000, 72% of respondents said they would allocate it to short term goals (that which can be accomplished in less than five years). Yet, one in four respondents also reported that retirement was a top savings priority (26%).
Nearly all Americans confess they can improve their relationship with money a new Edward Jones survey finds while most Americans feel in control of their current financial situation, balancing short-term and long-term goals remains a challenge. The best way to show your love is to love yourself first and take care of your finances. Advisors have the best information to get you financially fit for 2020!
VBS: Jesse Abercrombie, Edward Jones’s financial services is in the Valder Beebe Show studios to share about a recently conducted Edward Jones survey. Jesse, help us to understand what was revealed through the respondents in this financial survey.
JA: It was a recent survey in 2019 and it was about money. The survey showed that 81% of the respondents feel in control of their money, but only 21% actually feel happy when it comes to thinking about savings.
VBS: Baby Boomers, you’ve got to get your money straight. Tell us more about the survey.
JA: A few other things that were revealed that 92% recognize there is room for improvement. When we think of savings, one of the biggest issues is how do we balance all of this? How do you save money? How do you pay off existing debt? How do you save for retirement at the same time?
Jesse Abercrombie’s full interview…youtube.com/valderbeebeshow
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