Retirement Planning

Wealthy investors more worried about the economy

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“The prolonged economic downturn has become the top worry for most wealthy investors, according to new research from Spectrem Group. Four out of five millionaire investors cited the sluggish economy as a concern in the first quarter of 2012 compared to 70% in the same period in 2011. Similarly, 81% of mass affluent investors, whose net worth is between $100,000 and $1 million, cited it as a concern in the first quarter versus 74% in 2011’s first quarter.

Only ultra high net worth investors, with at least $5 million in assets, didn’t list the slow pace of the recovery as their chief concern. Instead, the national debt, cited by 82% of the wealthiest investors, and the contentious political environment, listed by 80%, beat out the lackluster economy. Even so, the economy came in third, with 77% of ultra high net worth investors naming it as a concern, up from 69% a year ago.

“With the unemployment rate remaining high, the continuing volatility in the stock market and gasoline prices, and a high-stakes presidential election looming, wealthy investors are anxious about the country’s outlook,” says George H. Walper, Jr., president of Spectrem Group. “You can expect a strong turnout among these voters.”

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