ROLE MODEL MOMS, COUPLES ARGUE, & MORE
Mothers are a bigger financial influence on children than are fathers, found a recent survey by Ameriprise Financial.
Fifty percent of adults (split evenly between men and women) named their mothers as the most influential in teaching money management. Fathers were chosen by 38%.
Seventy percent said their mothers were good financial role models, although it was a tossup as to whether mothers or fathers gave the best financial advice, the survey said.
Couple conflicts
Only 38% of couples work together on retirement planning, a study by Fidelity Investments found.
That lack of cooperation led to conflicts on retirement plans. Some 35% of couples disagreed on when a spouse would retire, while 37% disagreed over whether their nest eggs would allow them to retire comfortably, the survey found.
About 41% disagreed over whether either or both would continue to work during retirement.
Time cures market ills
Stock market action this year has raised fears of a bear market. Investors who stick it out can turn losses into gains, however.
The worst one-year period for the U.S. market since 1972—as measured by the S&P 500 Index— was a loss of over 26%. However, the worst five-year period saw an annualized loss of just 2.3%, while the worst 10-year period saw an annualized gain of 6.5%