Showing faith in investing

Save more. Invest more.

Two admirable goals, but, quite frankly, two rather lofty goals for most of us. But those are the firm conclusions from a new survey from the financial-services firm TD Ameritrade Holding Corp.

The firm's annual New Year's Resolution survey offers some uplifting conclusions, so long as those queried can hold firm. It shows that despite this very uncertain economy, more of us want to build an investment portfolio or start a retirement account in 2010.

The New Year's survey by TD Ameritrade shows, for instance, that minorities, along with women and even young adults, are showing the greatest desire to invest for their future - or to continue to build upon their current investment holdings.

Diane Young, who directs retirement and goal planning for the firm, says the survey is really about lessons learned. "Investor confidence took a hit during the recession, but rather than feeling discouraged, people are using this as motivation to get on track and be better prepared for the future," she says in remarks released with this year's survey results.

That's interesting, since some in the investing world have fretted that Wall Street's earlier meltdown might discourage investors, particularly individual investors, from getting back into the swing of investing in stocks, bonds, mutual funds or cash-related investments.

The market's bullish run of late certainly has brought some back into the investing fold, but we're still not back to recouping all our losses from this profound recession and market freefall.

Perhaps the encouraging results from these New Year's resolutions could be an omen of investor confidence returning in the markets, and in our ability to save some money - never a bad thing.

Young echoes that belief, saying this year's survey reveals a "resiliency in the attitudes of Americans" toward investing. But she adds the most important findings from the annual survey are the continuing need for greater education among those who invest and a greater need for better financial planning.

"All Americans … should evaluate their current financial situation and put a financial plan in place to start working toward their long-term financial goals," says Young.

She points out there are a bevy of free educational services to explain investing to the novice, or offer a more solid education for those already invested. That's certainly true. Whether you're an individual who invests on his or her own or relies on a financial adviser or financial planner, the more you know, the better off you'll be.

So ask your adviser for some self-help guides. You'll probably be amazed at all the investor-education materials that can be found on the Web site of your investment firm. Many of the big Wall Street firms offer educational sections, as do many of the larger mutual fund organizations, such as Fidelity and Vanguard. And with the Internet age, there is a growing use of video and tutorials to teach us about investing basics, or retirement planning or the reasons to come up with a long-term investing plan, regardless of the markets' near-term direction.

Of course, if you peruse the magazine racks, there are many entertaining, and informative, magazines about investing. Some are steeped toward more seasoned investors, but many offer some plain-vanilla advice, which can be invaluable when you're first considering investing your hard-earned cash - and these days, it is truly hard earned.

While the TD Ameritrade's survey does focus on New Year's Resolutions - something I seem to make by the boatload each year - the survey's practitioners say that most of us tend to adhere to financial-related resolutions more than others, such as losing weight or quitting smoking, two very difficult prospects for many. As the survey points out, 60 percent of those who made personal-finance related resolutions last year have stuck with them.

Anthony Cronin is The Day's business editor.