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Marion Syversen Marion Syversen
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And the survey says

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We love a good story. We like hearing the stories of other people's lives, their heroics and their scandals.

I don't have a really great story for you this month, but I have surveys! I recently read the results of a couple of surveys about high net-worth investors that I thought would pique your interest. What are the rich doing and how are they feeling?

Apathetic Twenty-five percent of high net-worth investors, those with more than $100,000 to invest, do not have a financial plan and many of them don't plan on getting one. The reason? Apathy. They think retirement is far away and that they can worry about it at some far-into-the-future time, like when they are old - which they perceive as too many years away to plan for or fret over.

Apathy doesn't only affect the ultra-high net-worth investor. I speak with many folks who don't connect with their future self, their older retired self, and spend now without any concern about tomorrow.

Their experts According to one of the surveys, 70 percent of ultrahigh-net-worth investors use financial advisors regularly to make investment decisions. Though many folks may be able to plan their finances on their own, they feel that they have neither developed the needed expertise or have the time to devote to planning their financial future. The planning is important to them, and they see the benefit of having good helpers.

Anyone can benefit from a little financial coaching. You don't have to be rich to work with a financial advisor.

Investing where? Two-thirds of ultrahigh-net worth investors have two-thirds of their assets in investable assets with 60 percent of those investments in equities, meaning individual stocks or stock mutual funds. Other assets they might also hold might be cars, real estate or shares in a private company. These are not investable assets.

Travel The most common large expenditure for ultrahigh-net-worth investors is for vacation and leisure travel and home improvement. File this under, 'They're just like us.'

Charity- When it comes to charity high-net-worth investors donate more than $10,000 to charity with 11 percent donating more than $25,000.

And in general, we are a generous country, with giving being an important value shared by most of us.

What these surveys show is that we may be different in how much money we have, but we may not be so very different in the emotions and values that drive us.


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