Americans want help from Warren Buffett.
More than 40 percent of people said they’d be most likely to take investing advice from the Oracle of Omaha, according to the Acorns 2018 Money Matters Report.
Buffett, the investing wiz who knocked on doors selling chewing gum as a child, is now worth $83.6 billion.
The report also found that 32 percent thought Oprah Winfrey is the best choice to discuss their finances. Just 17 percent think President Donald Trump should be their go-to guy.
Just 5 percent of people want financial wisdom from Jay-Z or Facebook Chief Operating Officer Sheryl Sandberg, despite their success.
So what is Buffett’s advice? “[I]n 10 or 20 or 30 years, I think stocks will be a lot higher than they are now,” Buffett has said. “If you buy them over time, you basically can’t lose.”
Still, many Americans are delaying investing until their financial situation improves, the Acorns report found
“There’s a sense that this is too big a mountain to climb,” Acorns CEO Noah Kerner said.
Half of respondents didn’t invest any money in 2018, while 80 percent of those who did put less than $5,000 in the market.
Acorns commissioned SurveyMonkey to conduct the research.The survey was not directed at Acorns customers. SurveyMonkey interviewed 3,403 people in November.