Most investors prefer to use their cellphones for a majority of their telephone conversations.
A majority of wealthy investors still have a landline telephone system attached to their homes, but that doesn’t mean they use it.
A Millionaire Corner study shows that 76 percent of all investors still have landlines available to them for telephone usage, but 98 percent also own cell phones. Based on the research, the cell phone is the preferred form of communication.
Asked the percentage of time they spend on the telephone using a landline (as opposed to being on the cell phone) only 29 percent estimated they spend at least half of their telephone usage time on their landline.
A greater percentage – 36.5 percent – say they spend less than 10 percent of their telephone time on their landline. A total of 54 percent estimate they spend less than a quarter of their telephone usage time on a landline phone.
Landline usage seems to follow age as a factor. Forty-one percent of retired investors say they use their landline at least half of the time, and 39 percent of investors 61 years of age and older still like to be attached. Among investors who consider themselves conservative, 39 percent use their landline at least 50 percent of the time.
On the other side of the coin, there are investors who have landlines and almost never use them. Fifty-three percent of investors with a net worth between $100,000 and $500,000 say they use their landline less than 10 percent of the time. Likewise, 48 percent of business owners use their landlines less than 10 percent of the time.
Age again is a factor. Fifty-two percent of investors under the age of 40 estimate their landline usage as less than 10 percent of their total telephone usage.
Of the 76 percent of investors who still have landlines, 46 percent said they have considered getting rid of it.
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.