Amidst struggling economy, successful millionaires offer investment advice for 2012

Coastwise Capital Group | Scott Kyle

Where are millionaires putting their money next year? Read on to find out.

By Scott Kyle

Of the countless Americans struggling to make ends meet this holiday season, the nation’s millionaires, one might assume, should number among the happy few for whom the upcoming New Year shines relatively bright. But according to the Wall Street Journal, a recent study from PNC Wealth Management shows that only one out of every ten U.S. millionaires is optimistic about the nation’s economic prospects – with three quarters of those polled expressing even darker projections for the economy’s performance over the next six months. Since the inception of the survey back in 2006, such pessimism amongst the nation’s most affluent and successful investors has never been so pronounced – not even during the height of the economic crisis between 2008-2009. And yet amidst such dramatic discontent, there is one area in which American millionaires remain confident: their investment picks to kick-off 2012.

Despite their relative financial safety compared to a vast majority of the nation’s populace, the country’s millionaires are hardly immune to the popular discontent with politics — and in particular, politicians – that has spread from coast to coast over the past few months. 85% of those polled said that both the U.S. political and financial systems are “seriously flawed,” and that the nation is undergoing a “long-term decline” in its economic health. Still, when it comes to private investments, the country’s most financially successful individuals remain optimistic: over half expect to maintain their wealth despite turbulent markets – and to pursue additional gains by investing in the most promising stocks for 2012.

Invest like a millionaire with expert wealth management advice

Where are the nation’s millionaires putting their money next year? Most predict that the biggest growth sectors for 2012 will include:

  • Technology (54%)
  • Energy/Utilities (49/5)
  • Health care (44%)
  • Financial stocks (19%)

These frontrunners are followed by

  • Socially responsible investments (11%)
  • Manufacturing (11%)
  • Transportation (7%)
  • Retail (7%)

It may seem clever to follow in the investment footsteps of America’s wealthiest 1%; but for truly expert, customized advice and professional money management going into the new year, we at Coastwise Capital Group recommend retaining the services of an experienced wealth manager for portfolio assistance that will help safeguard your assets against the unpredictable economic and political horizon. To learn more about protecting your wealth and maintaining financial stability into the New Year, visit us online: www.coastwisegroup.com.

The information in this article is strictly for educational and illustrative purposes and is not an attempt to furnish personalized investment advice or services.

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Posted by Social Media Staff on Dec 24, 2011. Filed under Columns, Scott Kyle, Sponsored Columns. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

1 Comment for “Amidst struggling economy, successful millionaires offer investment advice for 2012”

  1. Jack Romara

    With the release of the iPhone 5 and Facebook going public later this year, it's not surprising that 54% of the nation's millionaires are investing in technology.

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