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Share Name | Share Symbol | Market | Type |
---|---|---|---|
E TRADE Financial Corporation | NASDAQ:ETFC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 49.26 | 48.50 | 51.87 | 0 | 01:00:00 |
Despite rent, student loans, and early withdrawals from their retirement accounts, investors under 30 feel confident they will enjoy the retirement they want
E*TRADE Financial Corporation (NASDAQ:ETFC) today announced results from the most recent wave of StreetWise, E*TRADE’s quarterly tracking study of experienced investors. Results show how investors under 30 feel about, and plan for, retirement.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170627005669/en/
(Photo: Business Wire)
“It is great to see young investors focused on their retirement goals and beginning to save early, as the power of compounding returns is significant for this group,” commented Mike Loewengart, VP of Investment Strategy at E*TRADE Financial. “Developing good saving and investing habits earlier in life will only benefit their long-term investing plans.”
Mr. Loewengart offered a few steps young investors may consider to help reach their retirement savings goals:
E*TRADE aims to enhance the financial independence of traders and investors through a powerful digital offering and professional guidance. To learn more about E*TRADE’s trading and investing platforms and tools, visit etrade.com.
For useful trading and investing insights from E*TRADE, follow the company on Twitter, @ETRADE.
About the Survey
This wave of the survey was conducted from April 1 to April 10 of 2017 among an online U.S. sample of 958 self-directed active investors who manage at least $10,000 in an online brokerage account. The survey has a margin of error of ±3.18 percent at the 95 percent confidence level. It was fielded and administered by Research Now. The panel is broken into thirds of active (trade more than once a week), swing (trade less than once a week but more than once a month), and passive (trade less than once a month). The panel is 60 percent male and 40 percent female with an even distribution across online brokerages, geographic regions, and age bands.
“Young investor” is defined by surveyed investors between the ages of 18–29. This group represents a sample size of 164 respondents within the total population.
Referenced Data
At what age do you plan to retire from the career you have now?TOTAL
Under 30
Before age 45 7% 45–54 18% 55–64 51% 65–74 22% 75+ 1% I will never be able to retire 1% How confident are you that you are currently saving enough to enjoy the retirement that you want?TOTAL
Under 30
TOP TWO BOX 85% Very confident 37% Somewhat confident 48% Somewhat unconfident 15% Very unconfident 0% BOTTOM TWO BOX 15% What are the main reasons you are saving for the long term? (Select top three choices)TOTAL
Under 30
For retirement 45% For an unknown emergency 41% For a big purchase such as a car or new home 30% To pay for an education 24% For vacation or entertainment 24% Simply because it's the right thing to do 23% To take care of a parent or other older relative 22% To get rich 20% I am not saving for the long term, just playing the stock market 3% What percent of your salary are you currently allocating to a retirement account?TOTAL
Under 30
0% 1% 1–5% 13% 6–10% 42% 11–16% 27% 17–22% 9% >23% 8% When it comes to saving for retirement, how much of a barrier is each of the following? [TOP TWO BOX of “Significant barrier/Somewhat of a barrier”]TOTAL
Under 30
Rent or mortgage 69% Paying down student loans 66% Education costs 63% Health care costs 57% Day-to-day living expenses like food or utilities 56% Wanting to live for today 51% Having a parent move in with you 49% Childcare 45% Having an older child move back in with you 42% Have you ever taken out money from an IRA or 401(k) before the age of 59.5 and, if so, for what?TOTAL
Under 30
No, I have never taken out money from an IRA or 401(k) before the age of 59.5 46% Yes (Net) 54% Yes, for a medical emergency 20% Yes, to pay for education 19% Yes, because I became unemployed 18% Yes, to make a large purchase 16% Yes, to simply spend on myself or my family 11% Yes, to spend on a vacation 2% Yes, other 0% Have you ever regretted your decision to take money from an IRA or 401(k) before the age of 59.5?TOTAL
Under 30
Top 2 Box 74% Very much regretted 24% Somewhat regretted 50% Regretted a little bit 18% Did not regret at all 8% Bottom 2 Box 26%About E*TRADE Financial and Important Notices
E*TRADE Financial and its subsidiaries provide financial services including online brokerage and banking products and services to retail customers. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC) and OptionsHouse (Member FINRA/SIPC/NFA). Managed Account Solutions are offered through E*TRADE Capital Management, LLC, a Registered Investment Adviser. Bank products and services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries. More information is available at www.etrade.com.
The information provided herein is for general informational purposes only and should not be considered investment advice. Past performance does not guarantee future results.
E*TRADE Financial, E*TRADE, the E*TRADE logo, and OptionsHouse are trademarks or registered trademarks of E*TRADE Financial Corporation. ETFC-G
© 2017 E*TRADE Financial Corporation. All rights reserved.
E*TRADE Financial Corporation and Research Now are separate companies that are not affiliated. E*TRADE Financial Corporation engages Research Now to program, field, and tabulate the study.
About Research Now
Research Now Group, Inc. is a global leader in digital research data for better insights and business decisions. The company provides world-class research data solutions that enable better decisions and better results for its 3,000 market research, consulting, media, and corporate clients through access to over 11 million deeply-profiled business professionals and consumers in more than 40 countries. Research Now operates globally with locations in the Americas, Europe, the Middle East, and Asia-Pacific, and is recognized as the quality, scale, and customer satisfaction leader in the market research industry. For more information, please go to www.researchnow.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170627005669/en/
E*TRADE Media Relations646-521-4418mediainq@etrade.comorE*TRADE Investor Relations646-521-4406IR@etrade.com
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