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Alternative Market Briefing

Americans feel guilty for not investing enough in 2014, set higher target next year

Tuesday, October 28, 2014

Komfie Manalo, Opalesque Asia:

A majority of Americans feel guilty for not investing enough this year, outpacing common year-end regrets such as poor eating and drinking choices, not sharing enough time with loved ones or spending too much money on oneself, according to the latest survey by Bank of America’s Merrill Edge Report.

In a press statement, Merrill said that only one in four Americans (23%) feel "proud" of how they handled their money this year, and only half (50%) of respondents said they are "content" with the financial decisions they made in 2014. The new data suggests mass affluent Americans know they need to do more investing and saving for the future.

"Many mass affluent Americans feel they didn’t do enough this year to put themselves in a good place for the financial future they desire," said Aron Levine, head of Preferred Banking and Merrill Edge at Bank of America Corporation. "Millennials [a term for persons reaching young adulthood around the year 2000], in particular, feel they are held back from investing and saving enough for retirement because of debts from unpaid student loans. The good news is investors of all ages are rethinking their priorities and plan to make retirement saving a top goal in 2015."

The bi-annual survey conducted among 1,046 mass affluent ......................

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