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Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
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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Young Millionaires Are Keeping Assets Liquid Through Economic Turmoil

A majority of young millionaires plan to keep their assets liquid over the next 12 months.

| BY Kent McDill

    

 

A majority of young millionaires plan to keep their assets liquid, or will invest conservatively, over the next 12 months, a Spectrem’s Millionaire Corner study shows.

High Net Worth Millennials, a Spectrem study of investors ages 32 and younger with a net worth of more than $1 million, shows that 36 percent plan to invest their funds in cash, and 22 percent are going to invest in fixed income products such as bonds or bond mutual funds. Forty percent plan to invest in equities such as individual stocks or stock mutual funds.

Among less conservative investment options, 11 percent of young millionaires said they plan to invest in hedge funds or private equity, and 16 percent plan to invest in investment real estate. Another 16 percent said they would invest in precious metals such as gold products.


Young investors with less than $1 million in net worth are being even more cautious. Fifty percent said they would keep their money in cash, and 30 percent said they would invest in fixed income products. Thirty seven percent said they would invest in equities.

There were more of the young non-millionaires willing to stick their financial necks out on investment real estate (23 percent) and precious metals (19 percent).

Young millionaires are more concerned than their older counterparts in personal issues such as losing their job or their spouse losing their job (46 percent to 29 percent of Baby Boomers), and using their wealth to help others (45 percent to 31 percent of Baby Boomers).

Young millionaires also enjoy the investing game more than their older counterparts. Fifty-nine percent of Millennial millionaires say they enjoy investing and want to continue to do it, while only 49 percent of Baby Boomers feel the same way. Also, 58 percent of young millionaires enjoy being actively involved in the day-to-day machinations that come along with investing, while only 51 percent of Baby Boomers enjoy daily investing.



About the Author


Kent McDill

kmcdill@spectrem.com

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.