Investments and savings are two of the most predominant strategies Americans rely upon to build wealth, and the results of a new study reveal that investors are likely to change their current tactics.
The results of a new survey conducted by marketing communications and research firm Opinion Research Corporation, and released by Edward Jones, show that 90 percent of Americans plan to change their current savings and investment methods over the next six months. Of the 1,010 participants polled, 39 percent cited the Presidential election as the top factor that will influence their decisions, while 30 percent report that healthcare costs will be a factor. Another 21 percent cited domestic and global developments as a factor.
Americans' decisions to make these changes did not vary significantly by gender or age, as nearly all but 5 percent of participants said they will make a shift rather than staying the course. Further, both men and women equally responded that the election would impact their decisions. However, 36 percent of women cited healthcare costs as playing a role in their future savings and investments, compared with only 24 percent of men. Some industry professionals cautioned Americans against making quick decisions.
"Today's uncertain environment and volatile markets may mean you need to re-balance your portfolio," said investment strategist Kate Warne. "In addition, there may be changes you need to make to address higher healthcare costs or taxes. But don't make changes if you're reacting emotionally to the short-term hurdles ahead."
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