Planning and risk There is an exact 50/50 split
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Posted On: 01/14/2024 8:05:16 AM
Planning and risk
There is an exact 50/50 split between how people approach financial planning in America. Half of U.S. adults say they are disciplined, with 20% identifying as highly disciplined planners and 30% as disciplined. The other half identify as undisciplined, with 36% saying their planning is informal and 15% saying they don’t plan at all.
The good news is that a large majority (70%) of Americans say they have clarity on exactly how much they can spend now versus save for later. The number jumps to 83% for those who work with a financial advisor. About six in seven (86%) of those who identify as disciplined or highly disciplined planners feel this same financial confidence.
When it comes to risk, 63% of Americans say they’re very or somewhat tolerant of financial risk in their investments. Interestingly, comfort with risk goes up for people who work with advisors (71%), those who consider themselves disciplined or highly disciplined planners (72%) and high-net-worth individuals (79%).
The study found that just over half (52%) of U.S. adults say they have a financial plan that factors for up and down economic cycles over time. That compares to 84% of high-net-worth individuals who say the same, and 79% for those who work with an advisor.
There is an exact 50/50 split between how people approach financial planning in America. Half of U.S. adults say they are disciplined, with 20% identifying as highly disciplined planners and 30% as disciplined. The other half identify as undisciplined, with 36% saying their planning is informal and 15% saying they don’t plan at all.
The good news is that a large majority (70%) of Americans say they have clarity on exactly how much they can spend now versus save for later. The number jumps to 83% for those who work with a financial advisor. About six in seven (86%) of those who identify as disciplined or highly disciplined planners feel this same financial confidence.
When it comes to risk, 63% of Americans say they’re very or somewhat tolerant of financial risk in their investments. Interestingly, comfort with risk goes up for people who work with advisors (71%), those who consider themselves disciplined or highly disciplined planners (72%) and high-net-worth individuals (79%).
The study found that just over half (52%) of U.S. adults say they have a financial plan that factors for up and down economic cycles over time. That compares to 84% of high-net-worth individuals who say the same, and 79% for those who work with an advisor.
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