A majority of Americans who are highly engaged across many aspects of life also grab hold of the wheel when it comes to investing, according to a new study by Charles Schwab. Yet, a sizable number of go-getters in life say they are not actively involved in their investment portfolio, revealing a dichotomy between how they engage in life and their behavior when it comes to investing.
Today’s Engaged Investor surveyed 1,000 Americans who express a significant degree of personal ownership in their everyday lives. The study found that a majority are also highly engaged in investing: nearly two-thirds (61 percent) are actively involved in their investment portfolios. A smaller though significant portion of those surveyed (39 percent) say they are not actively engaged in their portfolios.
“Whether a result of the financial crisis and the challenging, dynamic investing environment that followed or a symptom of the low levels of trust in the financial services industry, there is clearly a trend towards a greater degree of personal involvement in investing – even among those who may have taken a more back seat role in the past,” says executive vice president and co-head of Schwab Investor Services John Clendening. “Among our own clients, we’ve seen an increased level of engagement, and with that, a greater sense of confidence and optimism about the future.”
All investors surveyed are active and engaged in their everyday lives. For example, 88 percent say it is important for parents to be active in their children’s education and schools, 74 percent think hard work is what makes this country great, and 67 percent conduct their own research on health concerns as well as seeing a doctor. When using the services of a professional like a home contractor, doctor or accountant, just 4 percent of these individuals prefer to let the professional make the decisions without their involvement.