The Spectrem Millionaire Investor Confidence Index (SMICI®) jumped 9 points to 1, a three-month high, in September. The Spectrem Affluent Investor Confidence Index (SAICI®) gained two points to -8.
There were more Affluent households that chose to retreat from the market this month, according to our survey of investment preferences. This reticence was especially prevalent among Non-Millionaire investors. But in Millionaire households, there was an increase in investment in Stocks, coupled with a movement away from conservative investments.
The Spectrem Affluent Household Outlook, a survey of attitudes toward financial factors that impact Affluent investors’ daily lives, was basically unchanged in September due primarily to renewed pessimism in the Economy, particularly in Non-Millionaire households. The overall Outlook has posted a negative reading for three consecutive months, but there were some positive signs. The overall Millionaire Outlook rose to a four-month high.
We asked Affluent investors this month what they consider to be the biggest obstacle to achieving their current financial goals. With just over one month until the election, it is not surprising that the economy and the partisan political climate are weighing most on their minds. September saw the release of another disappointing jobs report, coupled with the unresolved fiscal cliff, which will not be addressed until after the November elections, despite renewed caution expressed by Federal Reserve Chairman Ben Bernanke.
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.