May 19, 2015 Fact of the Day: Who makes financial decisions in Millionaire households?
DID YOU KNOW THAT 53 PERCENT OF MILLIONAIRE HOUSEHOLDS MAKE JOINT FINANCIAL DECISIONS…..BUT THAT PERCENTAGE CHANGES DEPENDING UPON WHETHER YOU ASK THE HUSBAND OR THE WIFE?
In research with Millionaire households recently completed by Spectrem Group, 53 percent of Millionaire households indicated that they made joint financial decisions. Forty three percent of men indicate that they make joint decisions while 74 percent of women say that decisions are made jointly. Interesting?
Sixty percent of two-income households indicate that they make joint financial decisions while only 33 percent of two income households indicate that the husband makes most of the decisions.
Does age make a difference? Yes…somewhat. Sixty one percent of households under the age of 35 indicate that they make decisions jointly. This compares to 52 percent of those over the age of 65. Forty-four percent of households over 65 indicate that the husband makes most of the decisions while 35 percent of those under age 35 indicate that the husband makes most of the decisions.
Only 6 percent of Millionaire households indicate that the wife makes most of the financial decisions.
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