For the fifth quarter in a row, the typical American’s personal financial satisfaction reached an all-time high, according to the AICPA’s Personal Financial Satisfaction Index (PFSi). A record number of job openings, along with the stock market’s bullish performance though Q3 (Oct 1) - despite volatility - boosted Americans’ financial positions. With all these positive records, you may be wondering what it means for you.
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There are many ways to invest your hard-earned money, but the goal is always the same: to grow your wealth. But a recent survey conducted by Harris Poll on behalf of the AICPA found that many Americans are embracing high-risk strategies that put their savings in jeopardy while doing minimal, if any, financial research upfront.
David Almonte, CPA, member of the AICPA’s National CPA Financial Literacy Commission, spoke to AICPA Insights about the survey results and what Americans should know about investing strategy.
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