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APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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The Affluent Mindset: Dogs Rule the Roost (but are Cat Lovers Smarter?)

A preference for dogs is not a matter of wealth. Affluent respondents with a net worth under $100,000 were more likely than their Millionaire cohorts to own a dog.

| BY Donald Liebenson

Affluent households are going to the dogs.

Two-thirds of Affluent Americans surveyed in May by Spectrem’s Millionaire Corner own a dog compared with 49 percent who own cats.

Business owners and corporate executives were the most likely to own a dog rather than a cat (88 percent vs. 42 percent, and 75 percent vs. 46 percent, respectively). This is not a surprise. Dogs exemplify traits prized in the corporate world, including hard work, education (training) and loyalty.

But preference for dogs is not a matter of wealth. Affluent respondents with a net worth under $100,000 were more likely than their Millionaire cohorts to own a dog (78 percent vs. 66 percent).

Men and women own dogs in near-equal percentage (66 percent of men compared with 67 percent of women), but women were more likely than men to own a cat (50 percent vs. 47 percent).

What does it mean to term someone a “dog person” or a “cat person”? Dr. Denise Guastello, an associate professor of psychology at Carroll University in Waukesha, WI conducted a study on the personality differences between dog and cat lovers. Her findings will do nothing to quell the ongoing debate between the two camps.

Dog lovers, she found, are livelier, energetic and outgoing, while cat lovers are more introverted, open-minded and sensitive. Dog lovers tend to follow rules more closely, Guastello found, while cat lovers are more likely to be non-comformists.

“It makes sense that a dog person is going to be more lively, because they’re going to want to be outside, talking to people, bringing their dog,” Guastello said in a statement. ”Whereas if you’re more introverted and sensitive, maybe you’re more at home reading a book and your cat doesn’t need to go outside for a walk.”

But restrain yourself, dog lovers: According to Guastello, cat lovers scored higher on intelligence tests than dog lovers.

This is easily debunked. After all, dog lovers may counter, they are smart enough to own a dog instead of a cat.

About the Author

Donald Liebenson

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.