Nearly all (95 percent) of Millionaires log on to their personal computer to access their personal financial account information.
Millionaires are much more active on their personal computers for financial purposes than they are on the smartphones or tablets, according to a second quarter wealth level study of mobile technology and online usage conducted by Spectrem’s Millionaire Corner.
Nearly all (95 percent) log on to their personal computer to access their personal financial account information, while 91 percent use it to conduct investment research and 89 percent to pay their bills.
The three types of bills most commonly paid online by Millionaires are credit cards (86 percent), personal items such as telephone, cable and Internet (80 percent) and household utilities (75 percent). The two types of expenses that are the least likely to be paid online are educational expenses (11 percent) and mortgage payments (36 percent)
Nearly three-fourths (74 percent) rely on their computer for financial goal planning or analysis, while 72 percent use it to correspond with their financial advisor and 70 percent for investment trading. Nearly two-thirds (65 percent) use their computer to evaluable financial service firms.
On a daily basis, Millionaires are most likely to use their computer to access their personal financial information. On a weekly and monthly basis, they are most likely to use it to pay their bills. They are using it less frequently for financial goal planning or communicating with their financial advisor or provider.
In comparison, just under two-thirds (65 percent) of Millionaire smartphone users are using their mobile device to access their financial account information. In terms of financial purposes, they are using their smartphone most for communicating their financial advisor (74 percent). Just over half (51 percent) are using it to pay their bills, while 59 percent are using their smartphone for investment research.
Millionaire are least likely to use their tablets for financial purposes. Less than half (48 percent) use their tablet to pay their bills. While 64 percent use it to access their personal financial account information. Only 39 percent use it to undertake financial goal planning or analysis.
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.