Retail investors are feeling optimistic about their financial futures, according to a new poll. The Wells Fargo/Gallup Investor and Retirement Optimism Index showed that U.S. investor confidence held steady in the second quarter at a seven year high. ‘They have confidence in the economy, they have confidence in the job market, the housing market seems to be inviting more first time homebuyers, so the American Dream, in their minds, seems to be alive and well,’ said Mary Mack, President of Wells Fargo Advisors. Optimism however, trumps planning. Less than half of those surveyed have a written financial plan, according to Mack. ‘I think it’s scary for some people. So our financial advisors work with them, break it down, talk about goals and dreams and risks, and what worries you,’ added Mack. The poll found that investors also said access to online or digital investing tools is nearly equally as important as having a strong relationship with a personal financial advisors. Additionally, a majority of investors said they do not feel confident about investing in the market on their own and prefer consulting with a professional. The survey also asked investors about their financial worries. The majority of respondents, 57%, said their number one worry is personal identity theft. That was followed by cyber-attacks on their savings or investments accounts, stock market volatility, and elder financial abuse.
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