Two thirds of those with $5 million or more in investable assets believe the country is worse off now than it was in 2007, with the deficit, the national debt and high unemployment their top concerns, according to a Northern Trust survey.
However, when describing the state of their own finances, close to three-quarters of the 1,700 high-net-worth investors surveyed expressed confidence that they will achieve their financial goals. Forty-one percent cited improved investment returns as the main reason for their confidence.
Their primary investment objectives were divided among growing wealth, generating income and capital preservation, according to the survey. In order to reach their goals, nearly one quarter of high-net-worth investors said they had increased their savings, while 41 percent said diversification of their investments is the most important action they have taken to achieve their long-term goals.
“Our survey found that 63 percent of wealthy investors are willing to take a calculated risk," said Katie Nixon, Northern Trust’s chief investment officer for wealth management. “We know that risk and return are related, and we believe in taking thoughtful risk for clients to enable them to accomplish their financial goals.”
Phoenix Marketing International and NIA Enterprises conducted 1,700 online interviews of wealthy individuals for the survey in November and December. The survey has a margin of error of plus or minus 2.4 percentage points, according to Northern Trust.
