It’s a poor joke but it seems appropriate given data released yesterday by the Hartford Funds.

A decade after the deep financial crisis the majority of survey respondents said there was no impact upon their lives.  Really?  Wow!

And yet…

  • 42% of respondents reported that they avoid investing in financial markets
  • 46% have altered their spending and savings habits
  • 25% plan to work longer
  • 25% have changed or taken on additional jobs

No impact, huh?

Furthering the delusion when asked about plans ahead of a possible economic and/or financial market slowdown 43% said they are taking a wait-and-see approach.

When most investors say they’re taking a wait-and-see approach that usually means that things have been so good for so long that there is no need to review where their investments stand other than to open statements and be happy that values are up.

– Bill McManus, Director of Strategic Markets at The Hartford Funds

To quote a great philosopher, “It’s not a lie if you believe it.”

Long live denial!