United States Postal Service still matters to affluent investors.
The United States Post Office can’t pay its bills and costs the United States government billions of dollars a year. There has been talk that the day may come when the USPS ceases to exist.
But a Spectrem survey of affluent investors shows that such a shutdown would have an impact on the American public.
The investors were asked “How much of an impact would it have on you if the United States Post Office was discontinued?”, and told to put their level of impact on a sliding scale, with “0’’ being no impact and “100’’ being big impact. Among all investors, the number was 64.18, which is on the “big impact’’ side of the scale.
But different segments of investors surveyed had different feelings about the USPS. Among females, the impact rating was higher than average, at 70.19. Also, investors with a net worth of under $1 million all had an impact rating higher than the average, and reached 70.70 for investors with a net worth of $500,000 to $1 million not including primary residence.
On the low end were investors with a net worth of $5 million or more NIPR, which rated the impact of the closing of the USPS at 50.84.
Among investors identified as corporate executives, their rating actually dipped to the “no impact’’ side of the scale at 49.40.
There is also consideration given to ending Saturday delivery service to save money, and that is generally O.K. with investors. Out of more than 1,000 investors asked, 77 percent said it would not affect them if the Post Office ended Saturday service.
Out of the 23 percent who said it would affect their lives if there was no Saturday postal service, 31 percent of those with a net worth under $100,000 said they would be affected. Also, 37 percent of investors under the age of 41 said it would affect them not to get mail on Saturday.
Eighty-one percent of males, 81 percent of investors with a net worth between $1 million and $5 million NIPR, and 82 percent of investors with a net worth of $5 million or more NIPR said it would not affect their lives to miss out on Saturday delivery.
Others above 80 percent were corporate executives (86 percent) and retired investors (81.5 percent). Eighty-five percent of investors who consider themselves very knowledgeable about investments said they don’t need Saturday delivery, and 80 percent of investors over the age of 60 were fine without it as well.
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.