The Spectrem Affluent Investor Confidence Index (SAICI®) rose 1 point to a neutral
-4, ending two months of declines in the index. The Spectrem Millionaire Investor
Confidence Index (SMICI®) dipped two points to a neutral 1, a five month low.
These attitudes were no doubt influenced in part by less than encouraging economic
news in June. Over the past month, initial claims for unemployment benefits have been
at 380,000 or higher, which is above the level analysts consider to be the benchmark
that would signal hiring trends strong enough to lower the unemployment rate, which
rose in May to 8.2 percent, the first increase in nearly a year. The most recent monthly
employment report found that the U.S. added just 69,000 jobs in May.
In turn, Affluent investor preferences fluctuated again in June, reversing investment
category preferences that were posted in May. Non-Millionaires were more actively engaged in the market than Millionaires, more of whom chose to “Not Invest” in June, according to the survey.
The Affluent Household Outlook, a survey of attitudes toward financial factors that
impact their daily lives, dropped to its lowest level in six months, a reflection primarily
of shaken confidence in Millionaire households in the Economy. Non-Millionaires,
though, were much more optimistic, particularly in the areas of the Economy and
We asked Affluent investors this month what they considered to be the most serious
threat to achieving their financial goals at this time. Not surprisingly, the stormy
Political Climate, which is intensifying in the heat of the presidential campaign, was the
issue they felt would have the greatest impact on their portfolios.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.