FAI: The majority of Americans find investing 'complex and confusing'
Preparing for retirement is top priority for an overwhelming majority of Americans, but only 50% of pre-retirees believe they are well-prepared with a strong retirement plan, according to the results of a Prudential Investments survey of 1,568 adults living in the United States.
The biggest problem Americans face when planning for retirement is ignorance. The survey found 63% of Americans find investing "complex and confusing" and 40% [of pre-retirees] "don't know what to do to prepare for retirement."Here are the four factors to consider before investing, according to former Wall Street executive Sallie Krawcheck.
Donald Trump's proposal for a new investing rule would be like putting "a wall in front of a typhoon," according to Joshua Brown. And in related news, a Kansas federal judge on Monday denied an effort to block a Labor Department financial-advice rule.
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In other news, Craig Gordon has rejoined RBC Correspondent & Advisor Services as chief of strategic development. And a global study found that women have better odds of winning management roles in growing parts of the industry.
And here's a roundup of stories from across Wall Street:
The US economy grew by 3.2% in the third quarter - better than expected and initially reported - according to the second estimate of gross domestic product, released Tuesday.Consumer spending was stronger than previously estimated, and it was the main reason overall economic growth was revised higher. Personal consumption grew by 2.8%, up from 2.1% in the Commerce Department's initial estimate.
In other news, the world could be about to run low on dollars. A "serious hangover" is about to hit the bond market. This is the "damage" imports have done to America's industries.
And 2017 will be a year of "economic nationalism," according to Fitch.
President-elect Donald Trump will meet with Goldman Sachs COO and President Gary Cohn on Tuesday. And Fox News is bringing on a top Democratic fundraiser and ex-President of UBS Investment Bank who advised President Barack Obama and Hillary Clinton.
In markets news, oil is getting smoked after Iran said it won't take part in a production cut. The Russian ruble is tumbling. And here's where all 14 OPEC members stand ahead of the crucial meeting in November 30.
Theranos and its founder just got hit with another lawsuit.Lastly, here's how much you need to earn to be in the top 1% of every US state.