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Ed Meek
CEO/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Non-Millionaire Household Outlook Falls to Eight-Month Low

The 16-day government shutdown and the tumultuous debt ceiling debate took a significant toll on investor confidence.

| BY Donald Liebenson

After surging in September to its highest level in more than two-and-a-half-years, The Spectrem Affluent Household Outlook plunged 13.40 points to 5.10, a near-repeat of the nearly 13-point drop the Outlook suffered from July 2013 to August.

The Outlook is a monthly survey conducted by Spectrem’s Millionaire Corner of Affluent attitudes toward four financial factors that impact their daily lives. The October survey was fielded in the midst of the 16-day government shutdown and the tumultuous debt ceiling debate. These events took a toll on investor confidence. The Economy took the biggest hit, dropping 19.59 points to -8.49, a 10-month low and the largest month-to-month drop since last August.

Household Assets dropped 14.37 points to 20. This was the largest month-to-month decrease in a year. Company Heath fell 12.27 points to 1.05, also the largest month-to-month drop since November 2012. The decrease in Household Income was less severe, 5.58 points, to 7.84.

Non-Millionaire investors seem to be most shaken by recent events in Washington. The Non-Millionaire Outlook fell 8.46 points to -13.72, an eight-month low and the third consecutive month the Non-Millionaire Outlook has been in negative territory. This last occurred between November 2012 and January 2013.

Company Health dropped 15.33 points to -14.76, a five-month low. The Economy dropped 1044 points to -22.73, a 10-month low. Household Income fell 6.05 points to -12.78, a three-month low, while Household Assets dipped 2.02 points to -4.60.

The Millionaire Household Outlook is significantly higher than its Non-Millionaire counterpart, but each component suffered drastic drops, indicating, too, a similar concern over how recent events are impacting their financial situation.

Among Millionaire investors surveyed, the Economy dropped 23.63 points to 4.66, the largest month-to-month drop in a year, while Household Assets fell 18.81 points to 42.72. Company Health fell 7.05 points to 15.65 and Household Income dipped 1.35 points to 26.89. Tellingly, the all of the Millionaire Household Outlook components posted positive readings in October, while the Non-Millionaire Household Outlook components were all in negative territory.

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.