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These 3 things keep investors up at night

Susannah Lee

The "American Dream" is still alive and well - at least within the investment community. According to the latest Wells Fargo/Gallup Investor and Retirement Optimism Index , U.S. investor confidence is at a 7-year high.

For over 92% of those surveyed, the "American Dream" was defined as retiring comfortably, home ownership and/or having meaningful employment. In the second-quarter of 2015, 84% of those surveyed believed the "American Dream" was just as achievable as it was a year ago.

The latest housing data showed first time buyers are finally coming back in the market. Although millennials weren't surveyed, Mary Mack, president of Wells Fargo Advisors (WFC),  said home ownership is still a big part in the 'American Dream'. It “still continues to be one of the fundamental things in this country to define success.”

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But Americans also face a nightmare of financial worries, particularly as they get older. Identity theft and cyber attacks on savings or investment accounts topped the list of concerns for those surveyed, as did elder financial abuse.

“I was really surprised too that 1 in 3 responded to the survey actually knew somebody who had been a victim of elder financial abuse,” said Mack.

Unfortunately, elder financial abuse is expected to get worse as the population ages. Mack said prevention is key.

There are “just normal cognitive issues as you age so think about it early [and] think about a power of attorney when maybe you’re in middle age so you’re more prepared when you get to that point," she recommends. "Financial professionals are really on the frontlines of seeing things happen, and whether it be unusual withdraws or different signs that start early in the process, even before that and [are] counseling clients to think about it before they’re ever at that state.”

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