Only 42 percent of the wealthiest investors get their investment information from cable TV programming.
Investing funds is a significant portion of life for the wealthiest investors in America, and they don’t seem to mind.
Spectrem’s bi-annual report on the wealthiest investors – 2014 $25 Million Plus Investor – examines the attitudes and concerns of investors with a net worth of at least $25 Million not including primary residence.
The study asked the ultra-wealthy investors to respond to the statement “I like to be involved in the day-to-day management of my investments” and 51 percent agreed. That included 64 percent of the wealthiest investors aged 66 or higher, with only 46 percent of the younger investors agreeing.
The investors were also asked to agree or disagree with the statement “I enjoy investing and do not want to give it up.” Fifty-three percent of all investors agreed with the statement, and again, 64 percent of the oldest investors agreed. Only 45 percent of investors between the ages of 56 and 65 agreed, however.
In order to properly manage investments, investors must remain knowledgeable about the current trends and performances of investment products. How they obtain information on investments is another topic the Spectrem report studies.
Seventy percent of the wealthiest investors get information and news on investments form their financial advisors, while 46 percent get their news from daily news publications. That includes 61 percent of the oldest investors who still read the newspapers and magazines.
Thirty-six percent of the wealthiest investors have gotten hip to the idea that the same information can be obtained on the internet, and 36 percent say they get investment information from web sites other than those operated by their financial advisor.
Forty-two percent watch cable television programs to get information on investments, and that includes 55 percent of the oldest investors. Only 35 percent of investors under the age of 56 say they watch cable TV for investment information.
Thirty percent of the most affluent investors say they visit their advisor’s website for information, while 29 percent get information from friends and family members. Thirty-two percent get investment information from weekly financial publications, and 16 percent visit financial blogs for tips and background information.
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.