Thank you very much to all who took part in our recent Sound Mind Investing member survey. We had a great response rate, which was especially impressive given how long the survey was.
Congratulations to James Davis who was the winner of the $100 Amazon gift card.
The survey findings will help us tremendously as we consider what topics to cover in future issues of the newsletter and future blog posts. In a recent post, I mentioned one finding that really jumped off the page. We asked, “If your household’s primary investment decision-maker died today, how well equipped would the survivor be to make such decisions?” Just 7% said, “Very well-equipped.” Another 29% said, “Somewhat well-equipped.” But the majority said “Not very well-equipped” or “Not at all well-equipped.”
Because of those findings, we plan to write more about this subject, exploring ways to address this issue.
Another finding I’ve been thinking about is that nearly 75% of our members are 50 years old or older. Other studies have found that a key regret among older people is that they didn’t start saving and investing at an earlier age. We’ve done some talking internally about what we could do to be part of the solution—to reach and engage more people in their 40s, 30s, and even 20s. What are your thoughts on that? How old were you when you became an SMI member and why didn't you join when you were younger? What might have motivated you to join when you were younger?