The Most Digitally Connected Savers are Most Successful
If you want to feel in control of your finances, take advantage of the tools – and live advice – offered by your financial institution, according findings from the PNC Perspectives of Retirement Survey 2016. PNC found that savers who felt the most digitally connected to their finances, about 45 percent, have the highest average household incomes and highest average investable assets. They spend, on average, 3 hours 42 minutes a week looking over financial information and news online or on their mobile device, compared with the typical investor, who spend an hour less. They were also more likely to seek out the advice of a financial adviser.
- 45 percent of successful savers consider themselves “very connected” to finances via digital platforms.
- They average 32 minutes a day looking over their finances either online or via mobile device.
- Very connected savers have higher average incomes and more investable assets.
- 59 percent of very connected savers have a financial adviser, compared to 56 percent of all survey participants.
- Even with all the information at their fingertips, two thirds of survey participants wanted to hear from their financial adviser in the last downturn.
- 22 percent were so eager to connect with their adviser, they initiated the call.
Other PNC Perspectives of Retirement Surveys:
Successful Savers Rely on a Little Support from Their Friends
Generation X Far More Ready To Take On Responsibility For Retirement Than Boomers
PNC Survey Shows Challenges of Being A Caregiver and Planning For Retirement
Running On Empty: Retirees Fear Losing It All
Retirement Preparation Behaviors and Habits of Retirees and Those Planning Their Retirement Examined
Dentist, Sit-Ups or Financial Planning?
Determination, Early Saving and Discipline Among Lessons Learned From Successful Retirement Savers