Our client Ameriprise Financial recently published results from a nationwide survey we conducted of Americans ages 30–70 with $100,000 or more in investable assets. This survey focused on major financial setbacks and how investors have dealt with them.
Major findings include the following:
- Most investors (73%) have experienced at least one major financial setback of some kind in their life.
- The most common financial setbacks among investors in the past are typically the same setbacks we are seeing during the pandemic.
- 89% of those investors have made a comeback or are on the path to recovering.
- Financial comebacks take time, often several years. Nearly two-thirds of investors said it took them between one and five years to get their finances back on track.
Findings from this study, conducted in January 2020, include how investors overcame financial challenges, which could be helpful for those dealing with setbacks as a result of the coronavirus pandemic.