Nearly 30 percent of Millionaire investors view the political climate, which is getting stormier by the month, as the most serious threat to achieving their household’s financial goals. This month’s survey of Affluent investors was taken as lawmakers and President Obama found themselves facing a crucial end-of-the-year deadline to extend the payroll tax cut and unemployment benefits.
At stake: A more than $2,300 hit for families that earn more than $110,000 a year, while five million people stood to lose their benefits in 2012 (two million could have exhausted their benefits in January alone).
Not surprisingly, Affluent investors as a whole cited Economy (20 percent) as the most serious obstacle to achieving their household’s financial goals. This is the same percentage keeping a close watch on the political climate.
Eight percent of Affluent investors this month cited the European Crisis as a serious threat to achieving their financial goals. This is up from two percent who cited this issue three months ago when this question was last asked. Earlier this month, the Federal Reserve noted that “strains in the global financial markets continue to pose significant downside risks to the economic outlook.” The stock market has acted accordingly as investors seek to curb their risk. Not surprisingly, of the Affluent we surveyed, Millionaires (13 percent) expressed greater concern about this issue.
Unemployment has risen slightly as an issue deemed a threat to achieving financial goals by 8 percent of Affluent investors, up from 5 percent in September. Five percent of these households view Inflation as an issue affecting their goals, down from seven percent three months ago.
