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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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Wealth and Financial Literacy Go Hand-in-Hand

The most knowledgeable investors are also the richest. Learn more about the link between wealth and financial literacy.

| BY Adriana Reyneri

The most knowledgeable investors are also the richest, according to recent Millionaire Corner research that indicates financial literacy and wealth go hand-in-hand.

 

Two-in-five high net worth millionaires – those with investable assets of $5 million up to $25 million – describe themselves as “very knowledgeable” about investing, according to a first-quarter wealth study from Spectrem’s Millionaire Corner. The share drops to 11 percent for non-millionaires with $100,000 up to $1 million to invest.

 

Financial literacy also “correlates strongly” with positive financial behavior, said Richard Ketchem, chief executive officer of the Financial Industry Regulatory Authority, in remarks this week announcing the group’s 2012 National Financial Capability Study. Respondents with high scores on the study’s financial literacy quiz were more likely to have established a rainy day fund, and less likely to carry credit card balances incurring high fees and interest payments.

 

Wealthier (and more knowledgeable) investors are much less likely than non-Millionaires to express regrets about actions taken in the years leading up to the financial crisis, according to our study. Less affluent investors wish they have saved more (45 percent) and taken on less debt (20 percent). Roughly one-in-five wishes they had done more research on finances and invested more for retirement through a 401(1) or other tax-deferred account. The biggest regret of high net worth Millionaires is “not investing more conservatively” (23 percent), but a relatively small share worries about debt (4 percent), saving more (12 percent) or retirement savings (4 percent).

 

High net worth investors say increased financial literacy is the primary benefit of working with a financial advisor. Click here to learn more. 

 

Financial literacy may also help boost income in retirement, according to a May survey from Spectrem’s Millionaire Corner. Investors who describe themselves as “very knowledgeable” are extremely likely to indicate they’re “very-well informed” about the workings of Social Security and when to start receiving benefits (81 percent). Half of investors who say they have “little or no knowledge” feel well informed about the timing of benefits. The most knowledgeable group is also more likely than the least knowledgeable to delay taking Social Security benefits to maximize retirement income (42 percent vs. 33 percent).