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Americans Would Rather Talk About Politics, Religion and Health Issues than Money

July 31, 2019
Top Financial Mistakes (Graphic: TD Ameritrade)
Top Financial Mistakes (Graphic: TD Ameritrade)

OMAHA, Neb.--(BUSINESS WIRE)--Jul 31, 2019--

According to a new survey conducted by The Harris Poll on behalf of TD Ameritrade, Americans would rather discuss politics, health issues and religion over money and personal finances while more than a third (37%) wish they could discuss their finances more freely.

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Top Financial Mistakes (Graphic: TD Ameritrade)

“In many American households, money isn’t something you talk about,” said Wende Rhodes, vice president of Branches at TD Ameritrade. “While politics and religion are topics regularly debated, money conversations seem to be stigmatized or off-limits, and that needs to change.”

The finance taboos breakdown
A third of Americans (34%) feel that it’s not polite to discuss finances in social settings, and the fear of being perceived as a failure is the number one reason millennials don’t openly discuss the topic.

“A common theme we see from clients who visit our branches, regardless of their geographical location, is they don’t realize that others are going through similar situations. But it’s far from the truth,” continued Rhodes. “Once people understand that they’re not so different from others, they start to open up.”

Financial mistakes are common
The data shows that Americans aren’t comfortable discussing their personal finances, especially financial mistakes that they’ve made. Three-quarters of Americans (75%) admit to having made a financial mistake, with a lack of financial education/knowledge (36%) as the primary cause.

“Regardless of what mistakes you’ve made or uncomfortable topics that may come up, don’t be afraid to discuss them with those around you,” said Valiere Simpson, managing director of Investor Services at TD Ameritrade. “Try to share your successes, but also your mistakes. Personal finance can seem overwhelming, so it’s important to build an environment that’s more open and safe for these discussions.”

About TD Ameritrade Holding Corporation
TD Ameritrade provides investing services and education to more than 11 million client accounts totaling approximately $1.3 trillion in assets, and custodial services to more than 7,000 registered investment advisors. We are a leader in U.S. retail trading, executing an average of approximately 800,000 trades per day for our clients, more than a quarter of which come from mobile devices. We have a proud history of innovation, dating back to our start in 1975, and today our team of 10,000-strong is committed to carrying it forward. Together, we are leveraging the latest in cutting edge technologies and one-on-one client care to transform lives, and investing, for the better. Learn more by visiting TD Ameritrade’s newsroom at www.amtd.com, or read our stories at Fresh Accounts.

Brokerage services provided by TD Ameritrade, Inc., member FINRA ( www.FINRA.org )/SIPC ( www.SIPC.org ).

Source: TD Ameritrade Holding Corporation

About The Harris Poll
The Harris Poll is one of the longest-running surveys in the U.S., tracking public opinion, motivations and social sentiment since 1963. It is now part of Harris Insights & Analytics, a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. We work with clients in three primary areas; building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. The Harris Poll is separate from and not affiliated with TD Ameritrade, which is not responsible for their services or policies.

Survey Methodology
This survey was conducted online within the United States by The Harris Poll on behalf of TD Ameritrade from February 13-20, 2019, among 1,006 U.S. adults aged 22 and older with at least $10,000 in investable assets. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190731005126/en/

CONTACT: For Media:

Becky Niiya, 402-574-6652

Director, Corporate Communications

rebecca.niiya@tdameritrade.com

@TDAmeritradePR For Investors:

Jeff Goeser, 402-597-8464

Managing Director, Investor Relations

jeffrey.goeser@tdameritrade.com

KEYWORD: NEBRASKA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: WOMEN MEN FINANCE FAMILY PROFESSIONAL SERVICES CONSUMER

SOURCE: TD Ameritrade Holding Corporation

Copyright Business Wire 2019.

PUB: 07/31/2019 08:30 AM/DISC: 07/31/2019 08:31 AM

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