Wealthiest Most Upbeat About Turnaround in 2010

by Jack Loechner, Jun 17, 2009, 8:15 AM

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The recent Ipsos Mendelsohn quarterly online Barometer survey among affluent adults during April 2009, as a follow-up to its Mendelsohn Affluent Survey among adults with household incomes of $100,000 or more, found that the three biggest concerns of 16 potential issues were The economy, Health care, and Unemployment and jobs. Compared to the Winter Barometer, the top three worries are the same as far as rank order goes, but the percentage of affluent households reporting each of them as a concern has declined.

Economic Worries Down Among Affluent
Concern	Spring '09	Winter '09	% Change Since Winter '09
The economy	46%	60%	-1.4%
Health care	31	33	-2
Unemployment & jobs	28	32	-4
Moral decline	26	19	7
Corruption & financial or political scandals	25	16	8
Taxes	24	23	0
Planning for retirement	22	na	na
Crime & violence	20	25	-5
Terrorism	18	17	1
Immigration control	14	8	5
Education	13	17	-4
Rise of extremism	10	11	-1
Threats against environment	9	8	1
Climate change	7	13	-6
Poverty & social inequality	6	7	-1
Access to credit	4	9	-5
Source: Ipsos Mendelsohn, Spring 2009

Only the highest income segment (those with HHI of $200k+) DIDN'T claim the economy was their number one concern. They chose ‘Corruption/scandals' as their chief worry, followed by ‘Moral decline' and then ‘the economy' as its third place ranking. This most affluent group also lowered the importance of Health care concerns to 9th place (the lowest ranking of any group measured) trailing Taxes, Terrorism and Planning for retirement.

Three areas of concern actually increased markedly since the Winter survey, including:

• Moral decline (up from 19% in the Winter to 26% in the Spring)
• Corruption and financial or political scandals (up from 16% in the Winter to 25% in the Spring)
• Immigration (up from 8% in the Winter to 14% this Spring)

When Affluent households were asked this Spring about how, if at all, the current recession has negatively impacted their household, their responses were:

• 17% ‘Not at all'
• 61% ‘Somewhat'
• 22% ‘A lot'

39% of affluent consumers think the current recession will end "in 2010." "Next year" is also the strongest belief of EVERY group regardless of gender, age or household income. Most positive about a 2010 turnaround are the 18-34 year-olds (55% said next year) while the least hopeful were women (30%). Women were also the greatest undecided group with 23% of them saying ‘I don't know' when the recession will end.

Regarding the future of the US economy, more Affluents were optimistic than pessimistic. Overall, affluent respondents reported stronger positive feelings than negative ones about the economy's future.

Optimism About U.S. Economy Going Forward (Spring 2009)
Degree of Optimism	%of Respondents
Very/Somewhat optimistic	49%
Very optimistic	7
Somewhat optimistic	42
Neither optimistic nor pessimistic	14
Somewhat/Very pessimistic	37
Somewhat pessimistic	29
Very pessimistic	8
Source: Ipsos Mendelsohn, Spring 2009

Also every subgroup measured (by age, gender or HHI) reported decidedly optimistic points of view. The most positive group was the wealthiest. Among this group, 63% of those with HHI of $200k+ were upbeat about the future, while only 28% of them were pessimistic.

For more information from Ipsos, please visit here.

 

 

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0 comments on "Wealthiest Most Upbeat About Turnaround in 2010".

1. Mike Anderson from CSS
   

   commented on: June 17, 2009 at 11:55 a.m.

   Please look at the first line of the first table above. Does the drop from 60% to 46% really represent a decline (% change) of just -1.4%?

2. Chris Gehring
   

   commented on: June 17, 2009 at 12:36 p.m.

   Also, do you mean the winter of '08 (instead of the winter of '09)? The winter of '09 hasn't happened yet. Agree with Mike that the decimal point seems to be misplaced as well on the first line.

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