Affluent Seniors Rely on Internet More than Younger Adults
This entry was posted on 1/16/2008 7:12 PM and is filed under wealth marketing.
CHICAGO, January 15, 2008 /PRNewswire/ — Think you have to be 21 years old to do your finances online?
Affluent senior citizens above the age of 70 are devoting a far
higher percentage of their online time (32%) to financial pursuits than
those age 70 and younger (13%), according to a new report by Spectrem
Group, "Online Tools: Affluent Use of Provider Web Sites," released
today. That's a difference of nearly three times.
Further, affluent 70-somethings who have incomes of more than
$150,000 a year are spending an even higher percentage of their online
time (49%) with financial pursuits.
"Much as we might like to think of managing finances online as the
sole domain of the young, affluent seniors are out-surfing them by a
healthy margin. The numbers are particularly noteworthy for affluent
70-somethings with high incomes of more than $150,000 a year. Financial
services providers would be wise to take this into account when
designing new online features and content, lest they risk alienating
this important group of affluent investors," said Catherine S. McBreen,
Managing Director of Spectrem Group and co-author with Spectrem
President George H. Walper, Jr. of the new book "Get Rich, Stay Rich,
Pass It On: The Wealth-Accumulation Secrets of America's Richest
Families" (Portfolio, January 2008).
The Spectrem report, "Online Tools: Affluent Use of Provider Web
Sites," is based on a survey of over 500 affluent investors, defined as
those with more than $500,000 in investable assets, conducted in August
and September 2007. The data have a margin of error of plus or minus
4.3 percentage points.
Source: Spectrem Group
