Fri, 12 February 2021 | pandemic saving retirement
As Valentine's Day approaches, the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors, looked at how parents with a partner or spouse have managed their financial decisions amid a year of disruptions. The survey found that more parents value a helping hand from their spouse when it comes to money. Over four out of five coupled parents (82%) say their spouse is helpful when it comes to financial decision-making, up 7 percentage points from last year.
More have opened lines of communication, with over half of parents who share investing decisions with a partner (55%) say they discuss investing with them frequently, up 6 percentage points from last year. Parents who made decisions alone tended to express regret about their decisions, with 43% saying that they feel guilty after making a financial decision without telling their partner, increasing 4 percentage points from last year.
“In unpredictable and chaotic times like we’ve experienced recently, it is encouraging to see parents working together,” said Mike Loewengart, Managing Director of Investment Strategy at E*TRADE Financial. “Even in the most predictable of times, parents must build towards a myriad of financial needs for today and tomorrow—including everyday expenses, saving for education, housing, and retiring someday, just to name a few. Successful financial planning in today’s environment can only come from working together and communicating often about goals, priorities, and their combined risk tolerance.”
Source: E*TRADE