A Gallup poll released Wednesday found that trust in all three branches of the federal government remains on the lower end of what the polling organization has measured historically.
When asked in September what they consider to be the most serious threat to achieving their household’s financial goals at this time, nearly one-fourth (22 percent) of Affluent investors surveyed by Spectrem’s Millionaire Corner responded, “The Economy.” Concerns about the economy are slightly heightened among Millionaire respondents (24 percent).
A close second is the political climate, which 20 percent of Affluent investors cite as the most serious threat to achieving their household goals, followed by market conditions (12 percent).
This survey was fielded in a month in which the key economic report, the Employment Situation, was decidedly lackluster. U.S. employers added a less-than-forecast 169,000 jobs in August, according to the report released at the beginning of the month. The drop in the unemployment rate to 7.3 percent was attributed to discouraged workers giving up on their job searches.
But the stock market rallied in September following a tumultuous August as investors anticipated what the Federal Reserve would do regarding its stimulus program (the Fed would announce in mid-September that until it saw more evidence of solid economic growth, it would keep its program in place, which propelled U.S. stocks to further record highs).
Among Affluent respondents, Millionaires are more likely to consider market conditions to be the most serious threat to achieving their household’s financial goals at this time (15 percent).
The political climate is as ever a concern to Affluent investors as the White House and lawmakers continued to be at odds on a wide range of issues, from whether to attack Syria for its alleged use of chemical weapons and the looming prospect of a government shutdown to the Affordable Health Care Act, the president’s signature legislation, which opponents are determined to defund, as witness Texas Republican Senator Ted Cruz’s 21-hour marathon speech against Obamacare.
A Gallup poll released Wednesday found that trust in all three branches of the federal government remains on the lower end of what the polling organization has measured historically. Americans' trust in the legislative branch is the lowest of the three, at 34 percent, and is unchanged from 2012. Trust in the executive and judicial branches are both down five percentage points in 2013, to 51 percent and 62 percent, respectively.
According to Affluent investors surveyed by Millionaire Corner, the Europe crisis and inflation are currently barely blips on their radars in regards to what they consider to be serious threats to achieving their household’s financial goals.
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.