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Featured Advisor



Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management

City:Northbrook

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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Recession Regrets of Ethnic Investors

Hispanic investors pay more attention to global economic events than other investors because those events impact their portfolios.

| BY Kent McDill

The financial crisis of 2008 affected almost everyone, but it affected everyone in different ways.

Spectrem’s Millionaire Corner Ethnic Segmentation Series report – Financial Attitudes and Concerns – reveals that the financial crash in late 2007 produced different reactions from investors of three different ethnic groups – African-American, Asian and Hispanic.

The study compared the attitudes of investors from those three ethnic groups to those of investors not included in those ethnic groups.

It was most revealing that among ethnic investors, the greatest regret related to the recession was that they did not save more money before the crash. While only 29 percent of all other investors said not saving more was a regret, exactly twice as many African-Americans (58 percent) said they wished they had done so, and 52 percent of Hispanics felt that way. Thirty-four percent of Asian investors said they wished they had put away more in a rainy day fund before the rainy day hit.

In most categories, the ethnic investors reported greater concern than the rest of the population.

One-third of Asian investors, for instance, said they wished they had taken more risk in their investments prior to the crash, while only 21 percent of other investors felt so. The African-American investors (24 percent) and Hispanic investors (23 percent) were more in line with the other investors in that concern.

When asked about taking on too much debt prior to the crash, African-Americans expressed a high level of regret over that topic. While only 12 percent of investors not in the ethnic groups said they wished they had not taken on so much debt, 23 percent of African-Americans listed that as a regret.

RELATED: Investing and Ethnicity.

The ethnic groups have unique viewpoints on the future of their finances as well. Seventy percent of African-American investors say they expect their personal financial situation to improve over the next year, while only 53 percent of other investors feel that way.

Fifty-six percent of Hispanic investors say they pay closer attention to the global economic situation because it has a greater impact on their portfolios than it did in the past. Only 40 percent of African-American investors said they were watching the rest of the world’s economies for that reason.

 

 



About the Author


Kent McDill

kmcdill@spectrem.com

Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.

In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.

McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.

McDill is the father of four children, and an active fan of soccer, Jimmy  Buffett and all things Disney.