Schawb: US Workers Feel More Financially Confident with Professional Help

Schawb: US Workers Feel More Financially Confident with Professional Help

Two out of three 401(k) savers have increased their contributions in the past two years, according to a survey from Schwab Retirement Plan Services. But, the savers still have a lot of stress and doubts.

The Schwab survey found financial stress can affect job performance, especially with non-savers -- 30% of non-savers said financial stress affects their job performance as opposed to 21% for savers. The study also found non-savers are less likely to be interested in a financial wellness program even though investment confidence is higher when a financial professional is involved. 20% of savers said they felt extremely confident when it came to making the right investment decisions by themselves, the confidence level jumped to 32% when savers had the help of a financial professional. For non-savers, 23% felt extremely confident they could make the right decisions by themselves, as opposed to a 30% with the help of a professional.

The Schwab study shows it may be a good idea to think about enlisting the help of a financial professional before making important investment decisions.

US, South Korea Begin Military Drills Despite Threats From North Korea

US, South Korea Begin Military Drills Despite Threats From North Korea

Top Navy Officers Fired After Deadly Collision off Japan Coast

Top Navy Officers Fired After Deadly Collision off Japan Coast