full text:
Bankrate's Financial Literacy Series: Financial Tune-up
Bankrate, Inc. (NASDAQ:RATE) today published the findings of a national poll which determined that 47% of Americans who invest their money find the process confusing. More women admit to being confused (56%) compared to the men who were surveyed (38%). Respondents stated that the most difficult aspect of investing is "knowing when to sell" (59%). The poll results are included in this month's segment of Bankrate's Financial Literacy Series: Investment tune-up. To view Bankrate's Financial Literacy 2007 - Guide to Building Personal Wealth, go to http://www.bankrate.com/financialliteracy.
"Our survey results show that many Americans feel uncertain when it comes to investing," said Thomas R. Evans, President and CEO of Bankrate.com. "The stories and content in our Financial Literacy series are designed to educate consumers so that they have the confidence and the knowledge to make the best financial decisions," Mr. Evans added.

  Key poll findings include:

   -- Workplace retirement savings plans are the most common place for
      Americans to invest their money, with 45% investing in a 401(k), a
      403(b) or a 457(b) plan.

   -- 26% invest their money in individual stocks and bonds at a brokerage
      firm

   -- Only 29% of  people surveyed really know how much they are paying in
      investment fees

   -- 33% of respondents say they select the investments they make and
      manage their own portfolio

One alarming finding is that only 32 percent of investors have an IRA and just 23 percent have both an IRA and a 401(k) or similar workplace plan. "Part of proper planning for retirement means taking full advantage of the tax incentives Uncle Sam provides," said Greg McBride, CFA, senior financial analyst at Bankrate.com. "Having both an IRA and a 401(k) or similar plan at work are important to staying on track for retirement. Both should be utilized as much as possible," Mr. McBride stated.
The national random-digit-dialed phone study of 1,005 adults 18 or older was conducted for Bankrate by GfK Roper Public Affairs & Media. The surveys were conducted from September 28 through September 30, 2007. The margin of error for the survey as a whole is +/- 3 percentage points. The margin of error for investors is +/- 4 percentage points.
About Bankrate, Inc.
Bankrate, Inc. (NASDAQ:RATE) ("Bankrate") owns and operates Bankrate.com, a leading Internet consumer banking marketplace.
For more information: http://www.bankrate.com/