Main Street investors remain pessimistic about their finances five years after the financial crisis, according to the “2013 Mass Affluent Investor,” a new study released this week by Spectrem Group.
The mass affluent don’t feel wealthy enough to require financial advising services, though they have a net worth of $100,000 to $1 million (not including primary residence). Many of them also say they haven’t built enough wealth to achieve financial goals like a comfortable retirement. At the same time, Mass affluent investors are reluctant investors who report a low tolerance for risk.