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A recent survey by Cafemutual shows that creating an emergency fund is the top financial priority for close to 72% of investors. Whereas, children’s education is the key goal for 69% of respondents, followed by retirement planning (66%) and children’s marriage (64%).
Notably, millennial investors also have the same priorities in a similar order. This shows that millennials do not show much difference in attitude, beliefs or behaviour.
However, financial priorities differ slightly in the case of women investors – while children’s education is on the top, emergency funds take the second spot, followed by children’s marriage and retirement.
The survey points out that mutual funds have become the most preferred vehicle to reach investment goals. It also shows that investors stay away from speculative assets and thus cryptocurrency is not yet a threat to mutual funds.
Cafemutual conducted the multiple option survey digitally/telephonically and reached out to 3,067 investors in Nov and Dec 21. It also covered emerging investor categories like women and millennial clients who respectively formed 25% and 40% of the total respondents. The survey aimed at preparing MFDs/RIAs to plan their business activities in line with the changing trends.
