May 25, 2015 Fact of the Day: Do Millionaires travel for Memorial Day weekend?
DID YOU KNOW THAT LESS THAN A THIRD OF MILLIONAIRES PLAN TO TRAVEL OVER MEMORIAL DAY WEEKEND?
In recent research completed by Spectrem Group, we found that only 29 percent of wealthy investors plan to travel on Memorial Day weekend. Business Owners are the least likely to travel on Memorial Day while Corporate Executives are the most likely to travel over the holiday, but only 34 percent. Younger households, those under age 40 are also more likely to travel at 42 percent compared to only 22 percent of investors over age 61.
Why do investors choose to stay at home over Memorial Day weekend? Nine percent indicate that it is too short of a weekend to justify traveling. Twenty nine percent plan on spending their money on a longer summer vacation instead. Older households, at 30 percent, are the most likely to save for a bigger summer vacation compared to only 22 percent of those under age 40.
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