Business & Finance
Thu, February 17, 2011Wed, February 16, 2011Tue, February 15, 2011Mon, February 14, 2011Sun, February 13, 2011Sat, February 12, 2011Fri, February 11, 2011Thu, February 10, 2011Wed, February 9, 2011Tue, February 8, 2011TD Ameritradea?s Annual Investor Index Survey: Financial Lessons Now Taught Earlier in Life
//business-finance.news-articles.net/content/201 .. inancial-lessons-now-taught-earlier-in-life.html
Published in Business and Finance on Monday, February 14th 2011 at 5:35 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
OMAHA, Neb.--([ BUSINESS WIRE ])--A new [ survey ] released by TD Ameritrade Holding Corporation (aTD Ameritradea) (NASDAQ: AMTD) found that while, historically, managing money has been one of the biggest challenges for investors, younger generations are learning how to manage their finances before they reach their teen years. As a result, they are feeling better prepared for their financial futures.
"Teaching children simple financial lessons such as budgeting, balancing finances and saving at an early age can help set them up for financial success in the future."
According to the survey, 47 percent of Gen Y and 45 percent of Gen X respondents learned money management lessons at age 12 or younger, compared to 35 percent of Boomers and 32 percent of Matures. The majority of the Mature and Boomer generations were first exposed to financial lessons during their teen years.
Learning the basics of money management at an earlier age seems to be beneficial for these younger generations. Sixty-one percent of Gen Y respondents feel they were set up for financial success in terms of financial education, compared to 52 percent of their Mature, Boomer and Gen X counterparts.
Early financial education seems to have provided younger generations with the knowledge and confidence they need to assume responsibility for managing their finances. In fact, 69 percent of Gen Y and 62 percent of Gen X respondents took responsibility for managing their finances in their teens, compared to 53 percent of Boomers and 41 percent of Matures who reported the same.
aIt appears that parents are learning from their financial mistakes and are trying to better prepare their children by teaching them financial lessons at an early age,a said Stuart Rubinstein, managing director of client engagement at TDAmeritrade, Inc. aTeaching children simple financial lessons such as budgeting, balancing finances and saving at an early age can help set them up for financial success in the future.a
Parents were by far the most influential when it came to teaching financial lessons, with 76 percent of all respondents surveyed reporting that their parents were the most important influence in teaching early lessons in money management. Respondents also reported that their parents excelled as financial educators, with 84 percent giving them an aexcellenta or agooda rating for their financial teachings. And while those of the Mature generation also agreed that their parents were the most influential, at 64 percent, this generation more than any other reported learning financial lessons from their spouse (10 percent).
Respondents also felt that the responsibility of teaching money management shouldna™t just rest on parentsa™ shoulders. Seventy-four percent of those surveyed agreed that schools should take on more responsibility for teaching children how to save and manage their money.
aParents are no longer the only influencers in the financial success of younger generations,a said Rubinstein. aWith access to online resources and tools, younger generations are now able to take financial matters into their own hands to gain the financial confidence they need to succeed.a
Through its brokerage subsidiaries, TD Ameritrade offers investors a variety of online resources, tools and calculators that can help those who are interested in expanding their financial knowledge. For investors interested in expanding their financial knowledge, TDAmeritrade's education subsidiary, [ Investools ], Inc. offers online courses and access to services such as Investor Toolbox®, one-on-one coaching, access to online trading rooms and more.
Additionally, [ The Invested Life ], an online Web series sponsored by TD Ameritrade and co-developed by MSN, Generate and OgilvyEntertainment, pairs everyday investors with independent financial experts who help them take control of their finances as they go through some of todaya™s most common financial challenges. Episodes of the second season of The Invested Life, including financial planning tools, advice from independent financial experts and blog postings from cast members can be found at [ http://TheInvestedLife.msn.com ].
For more information including survey key findings, visit [ www.amtd.com ].
AMTD-G
Survey Methodology
These results are based on a survey conducted by Maritz, Inc. on behalf of TD Ameritrade Holding Corporation. Nine hundred sixty-three (963) adults between 21 and 80 years of age participated in a telephone survey from November 16 through December 7, 2010. The margin of error in this survey is 3.2%. This means that in 19 cases out of 20, survey results based on 963 respondents will differ by no more than 3.2 percentage points in either direction from what would have been obtained by seeking the opinions of all adults living in the United States ages 21 through 80. Maritz, Inc. and TD Ameritrade Holding Corporation are separate, unaffiliated companies and are not responsible for one anothera™s products and services.
Generations defined as: Mature: born 1930-1945; Boomer: born 1946-1964; Gen X: born 1965-1976; and Gen Y: born 1977-1989.
About Maritz
St. Louis-based Maritz is a sales and marketing services company, which helps companies achieve their full potential through understanding, enabling and motivating employees, channel partners and customers. Maritz provides market and customer research, communications, learning solutions, incentive initiatives, rewards and recognition, effective meeting, event and incentive travel management services, and customer loyalty programs. For more information, visit [ www.maritz.com ] or contact us at 1-877-4MARITZ.
About TD Ameritrade Holding Corporation
TD Ameritrade Holding Corporation (NASDAQ: AMTD), through its brokerage1 and education subsidiaries, combines innovative trading technology, easy-to-use and understand [ trading tools, ] investment services, investor education and superior client service to create a market-leading financial services experience. Home to Kiplingera™s #1 online broker,2 the award-winning thinkorswim trading technology,3 and the respected Investools investor education program, TD Ameritrade provides millions of retail investors, traders and independent registered investment advisors with the tools, service and support they need to help build confidence in todaya™s rapidly changing market environment. For more information and resources for journalists, please visit the TD Ameritrade newsroom at[ www.amtd.com ].
1 TDAmeritrade, Inc., member FINRA ([ www.FINRA.org ]) /SIPC ([ www.SIPC.org ]) /NFA ([ www.nfa.futures.org) ] and TDAmeritrade Clearing, Inc., member FINRA/SIPC.
2 TD Ameritrade was ranked #1 and received an overall score of 5 stars (tied for first place with one other broker), in the Kiplingera™s Online Broker Ratings, Kiplingera™s Personal Finance, 02/2011. Fourteen brokers were rated in the categories: Costs, website usability, Investment choices, Customer service, and Research and tools.
3 thinkorswim, prior to joining TD Ameritrade, earned 4.9 stars, the top score, in the category aTrading Technology,a and was rated #1 overall online broker in Barrona™s ranking of online brokers, 3/15/2010. thinkorswim was evaluated versus others in eight total categories, including trade experience, trading technology, usability, range of offerings, research amenities, portfolio analysis and reporting, customer service and education and costs. thinkorswim topped the list in 2006, 2007, 2009 and 2010 with the highest weighted-average score. Barrona™s is a registered trademark of Dow Jones & Company © 2006a"2010.
Investools, Inc. does not provide financial advice and is not in the business of transacting trades.
Investools, Inc. and TD Ameritrade, Inc. (member [ FINRA ] | [ SIPC ] | [ NFA ]) are separate but affiliated companies that are not responsible for one anothera™s services or policies.
