July 20, 2015 Fact of the Day: Are younger Millionaires more optimistic?
DID YOU KNOW THAT YOUNGER INVESTORS ARE MORE LIKELY TO BE OPTIMISTIC ABOUT THE FUTURE THAN OLDER MILLIONAIRES?
In research recently completed by Spectrem Group, it was found that more than 70 percent of Millionaires under the age of 35 feel their financial situation will be better next year. This compares to only 50 percent of investors over the age of 65. In fact, as age increases, optimism about the future decreases. For example, approximately 65 percent of those between the ages of 45-54 feel things will be better next year while less than 60 percent of those between the ages of 55-64 believe things will be better next year.
-Professionals were the least likely to feel positively about the future (healthcare costs??) while Business Owners were the most optimistic.
It’s likely that older investors are living on a fixed income…and with interest rates remaining low, they are probably drawing upon their principal rather than living on their interest payments. Younger people have traditionally been more optimistic.
What are you thoughts about the rest of 2015? Are you optimistic or do you remain cautious?
To learn more about Millionaires and their financial attitudes and concerns, click here or contact Randy Wostratzky at email@example.com or 224-544-5195.