Close Close

Portfolio > Economy & Markets

Millionaires' Confidence Returns, Spectrem Finds

Your article was successfully shared with the contacts you provided.

The Spectrem Group said Wednesday that its Spectrem Millionaire Investor Confidence Index rose 7 points in December to end the year at 7. This brings the index to its highest level since December 2007, when it stood at 8, and keeps it in neutral territory.

The index hit -18 in August, but improved to 0 in October and November.

In addition, the Spectrem Affluent Investor Confidence Index, which measures the investment confidence and outlook of households with $500,000 or more in investable assets, remained unchanged at –8, also a neutral reading.

“Millionaires posted a strong increase in investment confidence in December, bringing 2010 to a close at their highest level in three years. Meanwhile, the broader affluent population’s confidence remained unchanged,” said George Walper Jr., president of the Chicago-based organization, in a press release.

“With November’s midterm elections bringing a shift in the political climate, America’s wealthiest investors appear hopeful that their lingering economic concerns will ease as we move forward into the New Year,” added Walper.

In response to an open-ended question about the most serious threat to achieving their household financial goals, affluent investors in December cited: the economy (24%); the political climate (23%); unemployment (8%); market conditions (7%); inflation (6%); and health-related issues (2%).

Those choosing the economy fell 2% from 26% in September 2010, the last time this question was asked, while those citing the political climate declined 4% from 27%.

Millionaires were more focused on the political climate (28%) than the affluent, but were less focused on the economy (22%).


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.