By the end of the year, 90 per cent of Americans said they plan to make some change to their savings and investment strategies, according to a survey by financial services firm Edward Jones. Among the 1,010 people surveyed, 39 per cent said the U.S. presidential election was the biggest reason to make changes, while 30 per cent cited health care as their biggest concern. For another 21 per cent, global crises were a factor, while a mere five per cent said they planned to “stay the course.”
What’s interesting about the survey is how much region and gender played role. For example, people in western regions of the country voiced concern about global issues (30 per cent), whereas Midwesterners weren’t as worried (16 per cent).
As far as gender goes, women were more likely to feel stressed about healthcare costs (36 per cent), while 24 per cent of men (less than one-quarter) said they felt the same way. Men also viewed economic crises in Europe and elsewhere as a serious issue (27 per cent) compared to women (15 per cent). However, both men (40 per cent) and women (38 per cent) agreed that the U.S. election could have a huge impact on their nest egg in the next few months.
Unsurprisingly, 96 per cent of wealthy households earning more than $100,000 a year said they planned to change their investment strategies in the next six months. For those making between $35,000 and $50,000 healthcare was the biggest reason to make a change. Which makes sense: As a recent NPR graphic showed, poor people spend more on healthcare than the rich and middle class.
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