Client Outlook for the Stock Market Shifts to Bearish: Schwab

But, Vietri added that there’s “hope on the horizon as many investors tell us they plan to review their financial plan this quarter.”

“That’s always an important step but particularly so in an environment like this,” Vietri said in a statement.

In its survey, Schwab asked clients what actions they anticipated making in the next three months, and the top answer was “review my existing financial plan,” with 35% saying they plan to do this. Clients also plan to add money into their investment portfolios (with 33% saying they plan to take this action), and they also plan to save more money (with 31% saying this).

The survey also found that — compared with earlier in 2018 — more clients indicate moving money into cash. According to the survey, 18% of the clients surveyed indicated that in the past three months they moved money into cash. This is up from the 14% in the second quarter of 2018 that said the same thing.

Overall, clients’ top three personal finance concerns for 2019 are saving for retirement followed by tax laws and health insurance costs.

Among retired clients, though, the top personal finance concern is understanding how the new tax laws apply to them.

The survey also found that client confidence in reaching their financial goals remains steady overall. However, among retirees, it has declined — about a third of retired Schwab clients say they are extremely/very confident in reaching their goals, compared to almost half a year ago.