By Warren S. Hersch
In the next six months, 90 percent of Americans plan to make changes to their savings and investment strategies
, with the U.S. Presidential Election most often cited as the reason, according to a new survey.
Edward Jones & Co., L.P., Des Peres, Mo., released this finding in a summary of results from a survey of 1,010 respondents. Conducted by Opinion Research Corp., Princeton, N.J., the survey examines domestic and international issues that are most likely to impact investment and savings decisions in the next six months.
The survey reveals the U.S. presidential election and health care costs are the two issues most likely to affect savings and investing decisions, with 39 percent and 30 percent of Americans pointing to them, respectively. Another 21 percent of respondents cite ongoing European and global economic issues.
Only five percent of savers and investors plan to stay the course in that time period.
Among the report’s other findings:
For Americans between 35 and 44 years old, and those 65 and over, the U.S. presidential election will have the greatest impact on the changes they make to their investment strategies, with 46 percent and 45 percent of those groups indicating so, respectively.
Respondents between 18 and 34 are, however, less concerned with the U.S. election, pointing instead to healthcare costs as the factor most important for their investment decisions (35 percent).
As with age, gender plays a minor role in respondents' likeliness to change strategies in the next six months, with 91 percent of men and 89 percent of women indicating they plan to make changes.
Men (40 percent) and women (38 percent) are almost equally likely to point to the U.S. presidential election as having the greatest impact on their investment strategies in the next six months.
Women were much more likely to identify healthcare costs as the issue that will affect their decisions (36 percent), while less than one-quarter (24 percent) of men chose the option.
While ongoing European and global economic issues are ranked as the third biggest issue altering investment decisions, men and women are divided on their sentiment. Men are more likely to see it as a significant factor (27 percent) than their female counterparts (15 percent).
Those living in the western part of the country are more likely to point to concerns over European and global economic issues than the general population (30 percent vs. 21 percent) and Midwesterners are the least likely (16 percent).
The most affluent respondents (those making $100,000 or more a year) are the most likely to change their savings or investment strategies in the next six months (96 percent).
Among respondents living in households with incomes between $35,000 and $50,000, healthcare costs rank as the top factor impacting investment decisions.
Originally published on LifeHealthPro.com