The Federal Reserve estimates that the richest 10% of U.S. households represents 70% of all U.S. wealth, an increase from 60% in 1989. With affluent Americans gaining even more prominence and importance for companies across sectors, we have undergone an intensive series of surveys designed to understand who affluent Americans are, what their lives are like, what drives them as consumers, and how they spend their time and money.
We found that in many ways, despite their financial might, affluent Americans are just like the rest of us; the stores they shop, the brands they prefer, the sports they watch, and the things they do in their free time are in some ways not all that dissimilar to less-affluent Americans. BUT, we also found several meaningful and important ways that affluent Americans are meaningfully different in the way they prioritize, think, and behave.
We spoke with over 1,000 Affluent Americans (those with $1M+ in household investible assets), as well as over 4,500 Mass-Affluent Americans ($150k – $1M in household investible assets), to develop a deep understanding of the lives of these financially powerful individuals.
Our report takes an in-depth look at Affluent Americans – demographics employment, finances, family situation, housing, hobbies and entertainment, media consumption, politics, pet ownership, and more. For any brand looking to understand and connect with Affluent Americans, this report is a must.
– Kyle Davies, SVP and Head of Syndicated Offerings