Nearly two-thirds, 62%, of investors have changed their approach to investing following the recession, TD Ameritrade found in a survey.
The most common changes were moving into fixed income, cited by 28%, and into mutual funds and managed accounts, cited by 23%.
And 22% are relying more on a financial processional following the economic downturn.
“The recession was a ‘light bulb’ moment for many in this country, causing sophisticated investors and beginners to re-evaluate how they save and invest for their futures,” said Stuart Rubinstein, managing director of client engagement at TD Ameritrade. “Many Americans today have adopted more cautious money management habits. They are also looking for added guidance—whether that be through products that feature more education and assistance or financial advisers—both of which can help investors better understand how to manage their money.”
Surprisingly, since men are usually more comfortable with risk, the survey showed that men have become more conservative than women following the recession, with 33% of men moving into bonds or CDs, compared with 21% of women. Twenty-five percent of men are relying more heavily on a financial professional since the downturn, compared to 18% of women.
Twenty seven percent of men have moved their assets into mutual funds or managed products in this time, compared to 18% of women, and 35% of men say they are now more selective about the stocks they buy following the recession, compared to 24% of women.