Americans Vowing Better Financial Planning for 2010

A news release from TD AMERITRADE about its annual New Year’s Resolution poll said 75% of respondents promised that at least one of their 2010 resolutions will be related to being a better saver/investor. Overall, 27% of respondents resolve to start or build on retirement savings compared to 21% in 2009.

The survey also revealed an increase in the number of women who plan to save more money this year – 66%, up from 60% last year. Fifty-nine percent of male respondents say they plan to save more money – no change from last year.

Additionally, 52% of young Americans (ages 18-34) are likely to make a New Year’s resolution about personal finances in 2010 – more than any other age group.

The survey also revealed an increase in the number of women who plan to save more money this year – 66%, up from 60% last year. This compares to the 59% of male respondents who plan to save more money – no change year over year.

Additionally, 52% of young Americans (ages 18-34) are more likely to make a New Year’s resolution about personal finances in 2010 – more than any other age group, the announcement said.

TD AMERITRADE said many Americans insisted they have greater financial planning ambition for 2010.  

Specifically, according to the news release:

• Overall, 22% plan to start or build an investment portfolio, such as stocks or mutual funds, compared to 13% in 2009.
•  38% of Hispanics resolved to start or build an investment portfolio, such as stocks or mutual funds in 2010, compared to 10% who resolved to do the same in 2009.

• 43% of black Americans resolved to start or build an investment portfolio, such as stocks or mutual funds in 2010, compared to 26% who resolved to do the same in 2009.

“Perhaps we’re seeing signs of the lessons learned from a struggling economy. Investor confidence took a hit during the recession, but rather than feeling discouraged, people are using this as motivation to get on track and be better prepared for the future,” said Diane Young, director, retirement and goal planning, TD AMERITRADE, in the news release.  “While it’s encouraging to see such resiliency in the attitudes of Americans, the most important finding here is the need for greater education and better planning. All Americans, no matter what their background, age or gender, should evaluate their current financial situation and put a plan in place to start working towards their long-term financial goals.”

More information about the company is available at www.tdameritrade.com .