Excerpt from Zero Hedge’s article picking up DataTrek co-founder Jessica Rabe’s latest report:
…. “A recent survey by robo advisor Betterment found that most Americans either think the S&P 500 has stayed flat or has even fallen since the Financial Crisis. We share the rest of the results and what it all means for financial advisors below.
With the 2008 Financial Crisis ten years behind us, have Americans moved on or does that event still cast a large shadow? Despite US equities near record highs, many years of positive economic growth, and low unemployment rates, a new study by robo advisor Betterment shows most people are still dealing with the fallout.
After recently polling 2,000 participants 18 years or older, here were some major takeaways from Betterment’s survey:
- The majority of respondents (65%) who said they were affected by the crisis have still not fully recovered. While most (59%) had a retirement strategy in place during 2008, 27% said they either stopped saving for retirement or contributing to their 401(k), 15% said their employer stopped sponsoring or stopped matching their 401(k), and 14% said they continued to save but only in cash. That still leaves 41% of people who did not have a retirement strategy in place even before the market crashed”….
Read the whole article here on Zero Hedge!