The biannual CNBC Millionaire Measure was conducted by the Spectrem Group in April to assess the investment attitudes and behaviors of U.S. millionaires. It calculated 750 Americans nationwide with $1 million or more of investable assets. Respondents were both spear and female with political affiliations to the Republican, Democratic and Independent sprees.
The slight decline is a result of fewer Republicans and Independents who think the husbandry will be stronger. Sixty-six percent of Republican millionaires still accept the economy will be stronger, compared to just 19 percent of Democrats. But 73 percent of Republicans dream the economy would get stronger in 2017. Among Independents, 40 percent say the briefness will be stronger at the end of 2018. That’s down from 44 percent who remarked the same in 2017.
Forty-two percent of millionaires say government dysfunction is the biggest hazard to the U.S. economy over the next 12 months. That number is at a four-year favourable, as other risks to the economy have diminished, especially the threat of nervousness around the world.
Just 10 percent of millionaires say global agony is the biggest risk to the U.S. economy, down from 20 percent a year ago and a top out of 27 percent in 2015. In its place, the national debt has risen as a perturb, with 17 percent saying the debt is the biggest risk to the conservatism today. That is up from 13 percent a year ago.
Millionaires’ prospect of the U.S. stock market as measured by the S&P 500 index has weakened significantly. Exclusively 56 percent of those surveyed think the S&P 500 will end the year up by at diminutive 5 percent. A year ago that number was 78 percent.
The S&P 500 finished 2017 with a progress of more than 21 percent, and is up by a little less than 2 percent in the in the first place half of 2018. Seventy-five percent of Republicans expect the market to come together to the end of the year, while sentiment among Democrats is much more contradictory – just 43 percent expect the S&P to end the year with a big gain; 35 percent of Democrats look forward a loss of 5 percent or more.
Millionaires’ view on the long-term health of the conciseness and the future economic security of their children remains a sharply one-sided question. Over the past three years, the CNBC Millionaire Measure has shown wealthy Democrats increasingly concerned for their children’s coming and Republicans increasingly more optimistic.
The number of Republican millionaires who say their kids compel be better off financially than they are is now 42 percent, up from 34 percent in 2017 and 29 percent in 2016. Interim, 42 percent of Democrats say their kids will be worse off financially than they are. That’s up from 37 percent a year ago and 33 percent two years ago.
Those long-term feelings appear to be impacting short-term spending plans for some millionaires. Twenty-five percent of Republicans say they diagram to spend more over the next year compared to the past year. That’s up from 17 percent who delineated to spend more in 2017. The percent of Democrats planning to spend itty-bitty also rose, from 13 percent in 2017 to 17 percent this year.