Seven in 10 experienced investors in a new survey from E-Trade Financial reported that they were satisfied with how they managed their investments during an uncertain and volatile year.
Half of survey participants said that remaining steadfast in their long-term plan was the top financial lesson they learned in 2020. Nineteen percent said they had learned it is better to strategically move in and out of the market, and 15% had learned the importance of saving for an emergency fund.
As the year comes to a close, 38% of self-directed investors said they planned to use an online tool to review their portfolio, while 35% said they would do so to contact an advisor.
Thirty-three percent of investors said their top financial resolution for 2021 is to use online tools to diversify their portfolio and help meet goals. Thirty percent resolved to seek the help of an investment professional.
“The year kicked off with a market shock that may define a generation in COVID-19, and as a nation we then experienced a social movement of monumental proportions in the fight for equality, only to cap the year with the most contentious election in modern history,” Mike Loewengart, E-Trade Financial’s managing director of investment strategy, said in a statement.
“And these next few months may continue to see pronounced volatility as markets balance winter virus woes with vaccine developments.
“In spite all of this, it’s encouraging to see investors tune out the noise and remain focused on long-term investment goals. In this environment, a properly diversified portfolio across asset classes is a powerful way to help smooth out unpredictable market conditions.”