Asked what time of day they get the majority of their financial news, more affluent investors chose the early morning hours of 6 a.m. to 10 a.m.
You rise. It is morning, a new day. You immediately begin to consume, perhaps food, perhaps a caffeinated beverage, and then the news. In some cases, the financial news.
Millionaire Corner did a survey of more than 1,000 affluent investors, all of them likely to pay attention to financial news reports at some part of the day, and asked them exactly what time of day that was exactly.
Respondents were asked to pick the time of day they gather the most information on the financial markets, so they were limited to one choice.
The most frequent selection was indeed early in the morning, from 6 a.m. to 10 a.m., chosen by 29 percent of all respondents. Males more often than females got their news in the early morning, 31 percent to 26 percent.
Exactly one-third of the wealthiest respondents, those with $5 million or more in net worth, chose the early morning hours to get the most of their financial information. Business owners were also more likely to go with the early morning information grab, as 41 percent made that selection.
For some reason, investors between the ages of 41 and 50 were more likely to choose the early morning hours for information gathering, as 38 percent selected that time.
The next most popular time was the 10 a.m. to 2 p.m. slot, presumably including a lunch break. Twenty-three percent of all respondents chose that time, including 32 percent of Business Owners.
(Interestingly, that makes 73 percent of business owners getting their news between 6 a.m. and 2 p.m. They must shut it down after the work day ends.)
Among the remaining time slots, 19 percent chose between 2 p.m. and 6 p.m., 16 percent between 6 p.m. and 10 p.m., and 1 percent are getting the most financial news from 10 p.m. to 5 a.m. Eleven percent did not choose a time.
Almost one quarter of investors between the ages of 51 and 60 get most of their financial information between 6 p.m. and 10 p.m.
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.