A majority of investors will cook and host large numbers of people for Thanksgiving.
For a majority of affluent investors, Thanksgiving remains a time to get together with family and friends and have a nice meal.
A survey of investors conducted by Spectrem’s Millionaire Corner revealed that 61 percent plan to prepare a home-cooked meal on Thanksgiving. Seventy-one percent of business owners are going to cook, while only 53 percent of corporate executives will cook a Thanksgiving meal. Less than 50 percent of unmarried investors are going to cook on Thanksgiving.
Only 50 percent of investors under 40 plan to cook for Thanksgiving (maybe they are still going to their parents’ home for a meal).
Among those investors who plan to cook for Thanksgiving, 34 percent plan to feed between six to 10 people, and 17.5 percent plan to have between 11 and 15 people over. Six percent plan to host between 16 and 20 people and more than 4 percent plan to have at least 20 people at their Thanksgiving feast.
Thirty-nine percent said they would have between one and five people at their Thanksgiving table.
Fifty percent of the unmarried investors who are cooking will host between one to five people. Fifteen percent of investors with a net worth over $5 million are inviting more than 20 people to their dinner, although 35 percent of the wealthiest investors are only having one to five people at their meal.
Thanksgiving is, for some, a traveling holiday, but only 25 percent of investors said they plan to travel over the late November weekend. Only 15 percent of corporate executives and 23 percent of business owners are going to get out of town, although 31 percent of investors under the age of 40 are going to travel (again, maybe to their parents’ home).
AAA projected a slight decrease in Thanksgiving holiday travel, with 43.4 million Americans expected to travel 50 miles or more from home for the November holiday weekend. The decrease is 1.5 percent below the 44 million people who traveled in 2012. The Thanksgiving holiday period is defined as Wednesday Nov. 27 to Sunday Dec. 1.
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.