Home

Few Americans Get Professional Help With Finances

Wed, 01/03/2001 - 1:00am — Karen Stevenson
Description: 

The American Institute of Certified Public Accountants and Harris Interactive polled high-income Americans to find out their attitudes toward financial planning and the use of professional help. They talked to 636 people with incomes of $75,000 or more, and found that most manage their financial affairs themselves. While they consult professionals in special situations, like when they inherit a large sum of money, they don't consult professional about day-to-day financial decisions they make. In many cases, they have made poor decisions -- 90% said they had lost money in the last five years because of quick decisions made without consulting anyone else.

The American Institute of Certified Public Accountants and Harris Interactive polled high-income Americans to find out their attitudes toward financial planning and the use of professional help. They talked to 636 people with incomes of $75,000 or more, and found that most manage their financial affairs themselves. While they consult professionals in special situations, like when they inherit a large sum of money, they don't consult professional about day-to-day financial decisions they make. In many cases, they have made poor decisions -- 90% said they had lost money in the last five years because of quick decisions made without consulting anyone else.