CHICAGO, IL--(Marketwired - Aug 6, 2013) - The differences between high net worth investors at diverse income levels range from investment strategies to social media usage, according to a unique income-based Perspective by Spectrem Group.
Those with incomes above $750,000 have the greatest tolerance for risk, according to the Financial Attitudes of Wealthy Investors Based on Income report by Spectrem Group.
The highest income investor is more likely to attribute their wealth to hard work, and many of those same investors say they have no plans to retire. Investors at lower income levels want to retire within 10 years but are uncertain as to whether they will be able to based on their current income and savings levels.
"Most investors have similar attitudes towards how they built their wealth, crediting hard work, education and frugality," says George H. Walper, Jr., President of Spectrem Group. "Investors are growing more moderate in their investment strategies. Their No. 1 interest in any relationship with financial services professionals is responsiveness to their needs and concerns so they can make well-informed decisions."
The study looks at the financial and personal concerns of investors based on annual income, in five segments between those making less than $100,000 up to those making $750,000 or more.
Other findings in the report include:
- Despite a record-breaking and robust stock market, many investors are holding their assets as cash in checking or savings accounts as they waited out the anticipated "fiscal cliff."
- Most investors are active in social media, but those with incomes above $750,000 are most likely to anticipate using social media to a greater degree for financial information in the future.
Additional information is available at Spectrem's Millionaire Corner, including:
- Unemployed Should Maintain Work Ethic, Advise High Net Worth
- Two-Thirds of Investors Report Concern Over Current Financial Position
About Spectrem Group
Spectrem Group is a strategic consulting and market research firm specializing in the affluent and retirement markets. Spectrem Group strategically analyzes its ongoing primary research with investors to assist financial providers and advisors in understanding the Voice of the Investor.
About Spectrem's Millionaire Corner
Millionaire Corner is an independent online resource for investors and about investors. With its Find an Advisor service, investors are able to search for financial and investment advisors to assist in growing their wealth.