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April 20, 2006

Where do we invest?

There are scores of financial investment opportunities for people. N.C. State University's Mike Walden explains which are the most popular.

"By far the most common ... are those that most people have at their bank, their credit union or savings and loan. We broadly call these transactions accounts," explains Dr. Walden, a professor and extension specialist in the College of Agriculture and Life Sciences. "They would be things like passbook savings accounts, maybe interest on your checking accounts. Over 90 percent of people have these kinds of investment -- by far the most common kind of investment.

"Second on the list would be retirement accounts. About half the people have some kind of retirement account outside Social Security. Third would be life insurance. Many people don't realize that you can save money through certain kinds of life insurance policies. About 24 percent of people do that.

"Then comes stocks. Stocks [are] actually fairly down on the list. About 20 percent of people are investing in saving in stocks. Savings bonds, 18 percent. CDs round out the list at 13 percent."

Posted by deeshore at April 20, 2006 07:32 AM