Most Investors Would Put Tax Breaks Right Into Savings
Optimism among U.S. investors is at its highest point since 2000, but most would still place any money from a (unlikely) tax cut right into the bank.
While the majority of investors aren’t expecting a slash to their taxes, 47% of them would put the additional money towards improving their financial health, and only 8% would spend it on everyday purchases, according to a new survey conducted by Wells Fargo, in partnership with analytics firm Gallup.
Wells’ Retirement Optimism Index puts investors at their most optimistic since 2000; the index is at +126, compared to the +130 it stood at in November 2000.
In fact, only 36% of investors surveyed expressed the fear that their savings wouldn’t last through retirement — a drop from the 46% last year 2016. Only about 28% noted that they had planned for retirement before reaching the age of 40.
