A recent poll of wealthy investors by Spectrem Group suggests that most affluent Americans have two major concerns: protecting their wealth and maintaining their health.
According to this poll, so called “affluent” investors, defined as those with a net worth (non-residence) of $100,000 to $1 million, have a somewhat different attitude about money and health than those with a net worth of $1 million to $5 million. The millionaires are less worried about maintaining their wealth and about managing the wide variety of potential health issues that we become susceptible to as we age.
Interesting to note that the affluent investors in this study tended to be younger (average age: 58) than the millionaires (62). Most importantly, most of the affluent investors are still employed (61%) while most of the respondents in the millionaires group (57%) are retired.
Here is how they compare when thinking about financial security:
|Area of Concern||Affluent Investors
(% that agree)
|Millionaire Investors (% that agree)|
|Maintaining their financial position||70%||62%|
|The health of their spouse||65%||66%|
|Their own health||62%||60%|
|The financial situation of their children and grandchildren||58%||61%|
|Spending their final years in a care facility||58%||52%|
|Managing a family health catastrophe||54%||50%|
|Having someone to care for them in old age||49%||44%|
Do you agree with these findings? How do you define financial security?