Affluent Atlantans upbeat about 2013, and there will be more of them

Like most everybody else, the wealthy are concerned with the state of the economy and where it’s headed. They just feel able to cope with it.

According to the Merrill Lynch Affluent Insights Survey, 42 percent of affluent Atlantans _ those with $250,000 or more in liquid assets to invest _ believe that the uncertain economy of the post-recession years is the “new normal” and that the country is not merely experiencing a brief period of high volatility.

Yet, 98 percent feel they are prepared to deal with that uncertainty.

Almost half of those surveyed explained that they have taken steps to gain greater control over their financial lives during the last year, and 47 percent said they have adopted more conservative spending habits.

“Affluent people in Atlanta are taking better care of their financial lives now,” said John Inhouse, managing director of the Atlanta Buckhead office for Merrill Lynch Wealth Management.

Inhouse described their mood as “cautiously optimistic.”

The affluent are fairly optimistic about next year as well, with 47 percent describing themselves as hopeful about their financial situation for 2013, and 35 percent saying they expect their finances to improve.

The main reason for their optimism: 43 percent anticipate making career advancements. Other reasons included their ability to take advantage of investment opportunities and being more disciplined in their spending.

The number of affluent people in Atlanta is projected to grow.

Merrill Lynch Wealth Management estimates that during the next five years, the number of households here with $250,000 or more in investable assets will grow by 16 percent. That will lead most cities in the United States. By comparison, the number of households considered affluent will grow by 6.5 percent in New York and by 9.1 percent in Los Angeles.

6 comments Add your comment

September 27, 2012 Headlines | TalkGA

September 27th, 2012
10:32 am

[...] Affluent Atlantans upbeat about 2013! Woohoo! [...]

Realist

September 27th, 2012
12:37 pm

The Federal Reserve will continue to print money like there is no tomorrow. These worthless dollars will make their way into everything the government and the banking system have their hands in – the stock market, the military-industrial complex, the police state, housing, etc. If you have investments in these areas, it will certainly appear as though things are getting better as the raw figures increase. Of course since not one of these dollars has actually increased anyone’s wealth, ultimates all of these gains will be offset by rising inflation and ultimately the collapse of the dollar, the banking system. wall street, and the greater global economy. So we all have that to look forward to, affluent or not. Thanks US government and your banking cartel puppetmasters !

@ Realist

September 27th, 2012
1:40 pm

To borrow from Billy Madison, what you’ve just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone visiting this blog is now dumber for having read it. I award you no points, and may God have mercy on your soul.

nelson

September 27th, 2012
5:01 pm

Does that mean just having $250,000 sitting in the bank ready to invest or would it include liquid assets like stock portfoloio? No matter, I like accumulating money, one thing I have in common with the very wealthiest[not the amount, the attitude] At one time i would just throw it away, now I am aware that having money and having it grow is very heartwarming.

Cway

September 28th, 2012
8:44 am

I think this artcile needs to be displayed before anyone who subscribes to the concept that trickle down works. Yes, surprise, in uncertain times, individuals, like business are HOLDING ONTO THE CASH. The lower wage earners are the ones driving the economy and when they have no money to spend, the economy stalls, is anybody feeling this?
Yes, Nelson, watch your nest egg grow, like all the others with disposable income that has placed the income in what they feel is the safest place on earth – thier wallets.

A.S.Mathew

October 1st, 2012
7:32 am

47% of the affluent Americans are going to be cautious before blowing their money. The poor are living in the same old standard-the middle class in sinking deep down into more financial instability; so would be too cautious to spend their money but trying to save what they have. Where this new
mentality of high caution is going to end up? We are going to head towards further slow down in the economy-less sales of consumer goods and more unemployment. The seasonal hiring of few thousand people for 7 dollar salary to sell made in China products will not create any positive sign at the economy, but the China can feel a little bit better. I humbly request to all the customers, please take three seconds to look at the made in sign in the toys-shirts-fork-t.v-pens-pencil-paper etc. Then we will understand the reason of this massive unemployment. All these big corporations made big money and the top people became millionaires instantly but the bottom down people are now in the streets without finding any hope. There must be a national boycott of those stores selling nothing U.S. made, but selling only cheap foreign made goods. How any country can survive for long if that country is living on imported goods only? The customers are not imported to shop at these shops, but the hard earned money of the American people are gone out of the country in a hurry; we don’t have either jobs or money to spend!