Only 14 percent of young investors under the age of 40 participate in fantasy football.
Do you want to know how wealthy people become wealthy? Perhaps they become wealthy because they don’t waste their time participating in fantasy football.
A Spectrem’s Millionaire Corner survey of more than 1,100 affluent investors determined that 96 percent do not participate in fantasy football, the national phenomenon that reportedly has 31 million working-age Americans involved. It is estimated that fantasy football participation sometimes occurs when Americans are working and could cost $14 billion this year in productivity.
So maybe wealthy people have employees that participate in fantasy football, but the affluent investors are not doing it.
Ninety-nine percent of investors identified as corporate executives are not participating in fantasy football, while only 4 percent of business owners say they do it. Even among young affluent investors under the age of 40, only 14 percent are participating in the 15-week exercise (not including draft week and research time, of course).
Among the small percentage of investors who DO play fantasy football, more than half (51 percent) said the game within the game makes National Football League football more interesting for them than it would be otherwise.
Thirty-nine percent said fantasy football has no effect on their enjoyment of the NFL games themselves, while 11 percent admitted that playing fantasy football is the only reason they watch NFL games.
The global outplacement consulting firm Challenger, Gray and Christmas determined the possible $14 billion in lost productivity number, but Chief Executive Officer John A. Challenger said it is wrong to try to demonize fantasy football.
“It is important to understand that there are more distractions than ever in today’s workplace,’’ he said. “If it is not fantasy football, it is the latest Hollywood gossip, shopping on Amazon or checking Facebook.
“Despite the growing number of distractions, the economy has not fallen to pieces. Productivity continues to improve, along with GDP and job creation,’’ he said.
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.