“This difference might indicate that lower-income investors need more support with investment decisions, including maintaining regular contributions and sticking to a trading decision without emotional influence,” the report said.
“Lower-income investors most often choose riskier strategies like trying to time the market,” the report added, noting that respondents making less than $75,000 tend to prefer that strategy instead of dollar-cost averaging, whereas the vast majority of respondents making more than $150,000 privileged the more cautious route.
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Author: Tom Carreras
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