Moomoo User Q3 2023 Personal Finance Survey

Despite calls by many economists a recession has yet to materialize. Employment remained strong in the third quarter while inflation came down from much higher levels reached earlier in the year.

The US stock market had stellar gains to start the year, but September brought a dip in returns with the S&P 500 index falling 4.9% and the Nasdaq 100 index dropping 5.1%. *

Moomoo surveyed its users at the end of the third quarter to find out how they are feeling about their finances, how financially resilient they are and how they are working to meet their investing goals and to achieve financial freedom.

Their answers painted a mixed picture about what worries them and how they are preparing for the future.

Four key takeaways from surveyed users:

1. Users are worried about inflation andthe economy. A little more income would make them less worried, and investing is generally seen as the number one way to get there.

2. Most users have an emergency savings fund, with a little less than half able to pay for an unexpected expense with such funds.

3. Many users feel financial stability can be achieved with relatively moderate- income levels and see investing as the top path to potential financial security.

4. YOLO style investing is not popular among users. Rather caution commands users’ attention when it comes to money maxims.

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