QUALITY
 
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The U.S. Trust Survey of Affluent Americans periodically polls the top 1% wealthiest Americans - those with either an adjusted gross income of more than $225,000 annually or a net worth greater than $3 million - about financial issues. This site presents those results in an organized and visually appealing fashion. According to results of the poll, 46% of respondents said their wealth is a result of a business they own, while only 10% attributed their wealth to inheritance. This is only one of many statistics given in the "roots of the affluent" section. Looking back on how strong the economy became in the later half of the 1990's, one statistic that might not have proved as true is "75% of the affluent believe that it will be harder for the next generation to accumulate wealth in the 1990's than it was for them." The affluent say the top advantage of having money is that it allows you to give advantages to your children. In another section, "Financial Worries," 49% of those polled say the best way to accumulate wealth is to start your own business, while only 20% say choosing a profession such as law or medicine. In another worry that proved false, 73% felt that overseas financial markets will be unable to function normally due to Y2K concerns. More intriguing statistics and opinions are given in section entitled "Investment Behavior of the Affluent," "The Impact of the 1990's Bull Market, and "Retirement Planning." One section is devoted to estate planning of the affluent. This section begins with a discussion of how the United States is on the verge of the largest transfer of wealth in its history -- an estimated $5 trillion will change hands over the next 20 years. Eighty nine percent of the affluent have discussed estate planning with their spouse, while most underestimated the rate at which their estate will be taxed - citing an average of 24%, while in reality the range is more likely to be 37% to 55%. Another interesting statistics is on average, affluents said that 23-years-old was the youngest an individual should be "before they could be entrusted with a significant inheritance." Also, on average, affluents said $5.5 million was the most money that an individual could inherit without having "a detrimental effect on the values of that person." The above statistics cited are given as an example of the interesting information to be found on this site. While the views of the affluent are not always correct, this site provides good data on the makeup of the wealthy in the United States. |
