Middle-income Americans wing it on financial decisions – InvestmentNews 09-23-12

Salient to Investors:

A Consumer Federation of America and Primerica study says middle-income Americans roll the dice when making financial decisions, leading to expensive financial mistakes. 67% of people with household annual income between $30,000 and $100,000 have made at least one really bad financial decision, costing them an average $23,000. But only 45% of those surveyed turned to an investment adviser.  A high percentage said they wouldn’t consult any information at all in making a decision.

Middle class average financial assets averaged $27,300 in 2010 versus $37,000 in 2007.

Read the full article at http://www.investmentnews.com/article/20120923/REG/309239982