Those findings, plus others that show a lack of basic knowledge of securities and unrealistic expectations of returns, indicate that most individuals are not well equipped to handle investing, nor do they want the burden of it, Gates said. Many people need professional financial advice, Gates said. There is a sense of security in knowing they are saving, but they are not into active investing. The funny thing is that even those who have financial advisers available are not using them. Only a small percentage of people do,'' Cochran added.
Advice is a difficult subject.
While employers and plan providers such as Fidelity and others can offer information, there is a fine regulatory line between telling people how to invest or providing education, which is allowed, and what to invest in, which is considered advice, and not allowed. Send questions and comments to The Webmaster .