Thought Leadership

Magnifi Survey Finds More Than Half of Americans Not on Track to Achieve Financial Goals This Year

Magnifi shares five year-end tips to help Americans make the most of their investments

BOULDER, Colo. and NEW YORK, Oct. 31, 2022 – In a recent survey conducted by Magnifi, 58 percent of Americans are either not on track or don’t know if they are on track to achieve their financial goals in 2022. To help people get closer to reaching their goals, Magnifi, the investing marketplace from TIFIN, is offering year-end investing tips.


The experts at Magnifi suggest investors consider the following before the end of the year: 

  1. Don’t be afraid to get started. “With Magnifi, you can pick a few, broad-based, low-fee exchange-traded funds (ETFs)1 to start your portfolio and then continue adding to it before the end of the year and learn from it. Plus, we have self-guided AI tools to help investors at every level get smarter and more confident with their investment decisions,” said Jon Klaff, General Manager at Magnifi. According to the recent Magnifi survey, the main reasons people don’t invest are lack of knowledge/confidence (47 percent) or they don’t know where to begin (27 percent). The important thing is to start as soon as possible.
  2. Stay diversified.2 2022 was a volatile year in the markets, and portfolios might not be as diversified across asset classes as otherwise thought. For example, one in 10 people surveyed believe that investors cannot buy bonds online. With the power of ETFs and mutual funds, investors today can invest not only in bonds, both domestic and foreign, but also everything from gold to chocolate. Now is a very powerful time to be an independent investor, but investors don’t need to get fancy to be financially responsible — a few diversified investments is all it takes.
  3. Consider tax-loss harvesting.3 Two in five survey respondents cited fear of losing money as the main reason they do not invest in the market. With the S&P 5004 down over 20 percent in 2022, it is likely that many investors lost some ground this year. Those who are considering tax loss harvesting for their 2022 tax return need to ensure they do it by the end of the year, or risk missing out on offsetting taxable income by up to $3,000.
  4. Develop a personalized investing plan.  Staying objective about investments can be difficult, especially when there are viral social media recommendations and posts boasting portfolio failures. Emotions can tempt investors to make rash decisions. By developing a strategic, long-term investing plan, investors are more likely to stay in the market and be successful.  “The key is to stay committed and not panic during moments of volatility. No matter how much money you have, be in the market in a responsible way — this isn’t the place to try to ‘get rich quick’,” said Klaff. “Our survey showed that half of Americans think you need more than $500 to start investing, but that’s just not true. There are good, personalized strategies investors can follow with any dollar amounts you feel confident with.” 
  5. Revisit retirement plans. The Magnifi survey found that 54 percent of respondents are nervous that their current financial situation will not allow them to retire by the age of 65. To combat that fear, consider contributing the maximum amount to reach the taxable limit for contributions to 401(k)s or Roth, SEP, and traditional IRAs. Additionally, people might want more investments to lean on than just tax-deferred accounts when they retire — having a diverse mix of investments including stocks and bonds will give people more flexibility when they’re ready to retire.


“Knowing that more than half of Americans don’t feel confident in their long-term financial outlook, now is the time more than ever to start thinking about your roadmap to investing,” said Klaff. “Our survey found that 72 percent of respondents are planning to invest next year, which is encouraging news. And of those respondents, half plan to invest independently. Magnifi doesn’t just give people access to independently invest, it gives them the knowledge to make informed, confident decisions that will enable them to become a more empowered investor.”

To see more findings from the Magnifi year-end survey, visit For more information about Magnifi and the company’s new premium subscription Magnifi Personal, visit



TIFIN is an AI-powered fintech that leverages data science, investment intelligence, and technology to deliver engaging and personalized investor experiences. By connecting individuals to advice and investments, TIFIN bridges the gap between investors, their trusted intermediaries, and asset managers.

Founded in 2018 by Dr. Vinay Nair, a former Wharton Professor and successful entrepreneur, TIFIN was created to help make investing a powerful driver of financial well-being by eliminating frictions investors face.

TIFIN manages Magnifi, an intelligent search-powered marketplace for investments; TIFIN Wealth, a platform for advisors, wealth managers, and other intermediaries to deliver better individual outcomesMagnifi Communities, a digital platform of specialized investors; all powered through Distill, a central digital distribution and insights engine using TIFIN’s data platform.



This opt-in survey was commissioned by Magnifi the week of October 17, 2022, among 1,000 American adults aged 18 and older, and conducted online by Dynata. Respondents of the survey were selected from those who volunteered to participate in online surveys. One thousand complete surveys were collected using the sample framework based on U.S. Census data for age, ethnicity, gender, region, and income.


Media Contact

Samantha Bartlett




  1. Mutual Funds and Exchange Traded Funds (ETF’s) are sold by prospectus. Please consider the investment objectives, risks, charges, and expenses carefully before investing. The prospectus, which contains this and other information about the investment company, can be obtained from the Fund Company or your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.
  2. Diversification does not guarantee a profit or protect against a loss in a declining market.  It is a method used to help manage investment risk.
  3. Magnifi does not offer legal or tax advice. Please consult the appropriate professional regarding your individual circumstance.
  4. Indices are unmanaged and investors cannot invest directly in an index. Unless otherwise noted, performance of indices does not account for any fees, commissions or other expenses that would be incurred.  Returns do not include reinvested dividends.

The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.  It is a market value-weighted index with each stock’s weight in the index proportionate to its market value.

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