Male and female respondents provided almost identical responses when asked about personal matters that might be considered taboo, such as marital problems, religion, politics, sexual orientation and family disagreements.
However, when it came to financial topics like household earnings, retirement savings and debt, more women consider them a social taboo than men. About one third of those surveyed — including 30 percent of men and 40 percent of women — adult sec chat they had discussed financial topics with friends and peers in the last six americas.
The survey found that those who are most willing to talk about money are either very confident perhaps too confident about their finances or very insecure. People turn to financial advisors and spouses to discuss money The survey found that when faced with a major financial decision or event, people discuss it with their spouse or a financial advisor.
By generation, millennials are nearly twice as likely as baby boomers to turn to friends or extended family to talk about managing money. The survey also found that millennials are more likely than Generation Xers or baby boomers to turn to their parents, co-workers or online amdricans for financial advice. The findings reveal four ways to confront the money taboo and to change saving and investing behavior: Start at home.
Boys chat free to your spouse or ificant other about money, and encourage conversations between parents and children.
Millennials are almost sent you a message as likely as baby boomers to say they would speak to their children about money at an early age; many adults say they are still teaching their adult children about financial topics. Seek advice. Most investors can benefit from financial advice.
Financial advisors can help investors make smart decisions about investing for the long term and help protect against market downturns. Nearly half of survey respondents said they would feel comfortable turning to an advisor for a major financial decision.
Ask your employer. There is an opportunity for employers and benefits managers to increase employee engagement and productivity when it comes to financial planning and other money issues. Picture your retirement.
text a friend online This simple insight could be used to promote conversation and caht to help Americans build a bigger nest egg for their later years. About Capital Group SinceCapital Group, home of American Funds, has been singularly focused on delivering superior for long-term investors using high-conviction portfolios, rigorous research and individual ability.
The Capital Group companies manage equity assets through three investment groups.
These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.