Mass affluent investors, those with $100,000 to $1 million of investable assets, are pessimistic about investing, a survey of 596 individual investors and 610 financial advisers by MFS Investment Management found.
Thirty-three percent said protecting principal is their No. 1 investing goal; 32% said it was increasing assets and 30% generating income. The survey's results were released Monday.
Twenty-eight percent of their portfolios, on average, are in cash, and 35% are in equities. Only 42% said they are highly confident that their portfolios are properly balanced to meet long-term goals.
Thirty-two percent describe themselves as protective, 17% as pessimistic and 16% as fearful. On the other hand, 41% said they are hopeful.
Mass affluent investors are also more pessimistic about retirement, with 59% more concerned than ever about being able to retire when they thought they could.
