New Data Shows Americans Are HORRIBLE at Investing (1% Returns?!)

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 14 June 2023

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

New data just released by Fidelity shows that Americans have been HORRIBLE at investing in their 401(k). What have they been doing wrong? And how can you do it better? Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Guess what?
0:07.4	New data shows Americans are still bad at investing, but we have the solutions right here
0:13.6	on the money, guys, sure.
0:14.6	So every year, Fidelity tracks average 401k balances, or really each quarter.
0:19.7	And this quarter's data just revealed kind of a shocking stat, and we had to talk about
0:25.2	it.
0:26.2	What do you want to do with our 401k balances across America?
0:30.3	Do you want to drop it on them, Brian?
0:31.8	Yeah, I just, I'm really in look.
0:34.8	We titled it this way for a reason.
0:36.9	As I feel like Americans were getting whooped.
0:40.7	I mean, literally whooped, but I just not doing the right things.
0:45.1	Because if you look at, here's what the data showed from Fidelity is that over the last
0:50.3	five years, the S&P 500, even with last year has gained 70%.
0:57.1	Meanwhile, 401k balances, according to Fidelity, you know, they are the largest 401k provider
1:03.8	in the United States are only up 5%.
1:07.4	So there is obviously a big disconnect here.
1:10.9	So we kind of want to jump right in and cover what's going on?
1:14.5	Why are Americans so bad at building wealth and especially saving for recovery?
1:17.8	Yeah, I mean, we do need to kind of make the point that 2022 was not the best year for
1:22.8	the markets, right?
1:24.5	S&P 500 lost 18%, but like we just shared over the five years, S&P 500 was up 70%.
	...

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