My friend and I were talking at work today about some of the customers we talk to and the things they just don't understand or know about investing. A lot of them seem EXTREMELY naive when it comes to finances and investing and I mean EXTREMELY. But then we thought, is it that they don't know very much, or is that common and we just know more because we work in this field? So, I decided to set up a little poll. I have taken it down now, but here were the results after a couple days:
The question was, "Do you know how an IRA and a mutual fund work and the difference between the two?"
Responses:
Yes, absolutely - 6 votes (23%)
Pretty much - 0 votes (0%)
Eh, Kind of - 5 votes (19%)
A tiny bit - 2 votes (7%)
Not at all - 13 votes (50%)
It really surprised me that 1/2 of the responses were not at all. I guess I just assume that people know something about it, but again, it's because I've been doing this for almost 5 years. I would love to help anyone out that wanted some info on how to start or anything like that, because working in this industry and seeing people who are about to retire and only have like $50,000, makes me really sad. How can you live in your retirement years with only $50,000... you can't. I won't give advice, but it's ridiculously important to start saving something now. That's just my two cents.
Let's get started!
17 years ago
4 comments:
Haha! I LOVE IT! :)
i'm not even going to remain anonymous, i'll be the first to admit, i know NOTHING about investing. I know a little bit about CDs and money market and that's IT.... if you decide to write a post about it, Investing 101, i would read it lol
seriously, I don't know much at all, but I'm totally interested in learning. The stuff I do know is only from working at credit unions.
They were offering a community class at our library, but of course Jason was busy that night so I couldn't make it cause of the kids! :(
Dear financial advisor,
Thank you for helping me set up an IRA 2 years ago. Someday when I have an income, I will add lots to it.
xoxo,
Nugglesworth.
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