RJ and Makay

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Young people may be losing hope that investing can make them wealthy.  Many individuals with more than $250,000 in investable assets are worried that they may not be able to save enough to sustain themselves for the rest of their lives, according to a new Merrill Lynch quarterly survey.  Survey recipients cited economic weakness, roller coaster markets, rising health care costs and college costs as the main reasons behind their worries.

Nearly half of people between the ages of 45 and 65 say they don’t feel confident in their retirement planning, according to a poll by the Associated Press and LifeGoesStrong.com, a lifestyle website for Baby Boomers. Pre-retirees will therefore be counting heavily on Social Security to fund their retirement, the poll also shows.

Of the pre-retirees polled, 44% didn't feel confident about having enough money to live comfortably in retirement. When asked which income sources will be very or extremely important for them in retirement, 65% named Social Security. Here's how other key income sources ranked:

If you're a financial advisor and you don't use Twitter, here's a great reason to start.

A TD Ameritrade survey of nearly a thousand adults shows that only 10% of the 22- to 34-year-olds — those belonging to Generation Y — see professional advisors as the most valuable sources of financial news and information. A third, or more than three times as many, rely on social media like Twitter for their financial and economic information.