SOURCE: Spectrem Group
April 18, 2013 10:37 ET
CHICAGO, IL--(Marketwired - Apr 18, 2013) - Main Street investors remain pessimistic about their finances five years after the financial crisis, according to the "2013 Mass Affluent Investor," a new study released this week by Spectrem Group. The Mass Affluent don't feel wealthy enough to require financial advising services, though they have a net worth of $100,000 up to $1 million (not including primary residence). A significant share feels they haven't built enough wealth to achieve financial goals like comfortable retirement. At the same time, Mass Affluents are reluctant investors who report a low tolerance for risk.
"Mass Affluent investors can benefit greatly from financial advising services, but they're significantly less likely than Millionaires to seek out the counsel of a financial advisor due to perceived risks," says George H. Walper Jr., president of Spectrem Group. "The latter leaves them vulnerable to running out of money in retirement and falling short of other financial goals. Considering the Mass Affluent represent some 28.4 million U.S. households, the problem has broad societal implications."
Highlights from the "2013 Mass Affluent Investor" report include:
Further insights are available at Spectrem's Millionaire Corner, including:
About Spectrem Group
Spectrem Group strategically analyzes its ongoing primary research with investors to assist financial providers and advisors in understanding the Voice of the Investor. For more information, visit www.Spectrem.com.
About Millionaire Corner
Spectrem's Millionaire Corner website provides information for investors about investors. With its Find an Advisor service, investors are able to search for financial and investment advisors to assist in growing their wealth. Learn more at www.MillionaireCorner.com.
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