Fear is a funny, double-sided thing. A healthy dose of it can keep you from trouble, but too much fear can induce “deer in headlights” syndrome, paralyzing you from taking necessary steps to protect yourself.
Last quarter we surveyed thousands of investors to better understand their financial fears: what worries kept them on the market’s sidelines and – just as importantly – which obstacles held them back from addressing those fears head-on. What we learned was a bit shocking.
Three-quarters of millennials we surveyed – and two-thirds of Gen Xers – admitted that the prospect of talking with a financial advisor had actually stopped them from investing. Put another way, despite a pressing need for financial guidance, the vast majority of adults under 45 wouldn’t turn to a traditional advisor to get the help they so desperately need. That’s an extraordinary statement.
Our recent post for Yahoo Finance explores these financial fears in greater depth – and how online advisory can make investing a bit less stressful for everyone.
We’re eager to hear from you, too. Would you agree with our survey findings? Whose financial judgment do you most fear?