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| Home>Newsroom>May 2009 |
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| Media Release - 23-05-2002 |
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| Newsroom |
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| Research on high income earners attitudes to wealth management and investment |
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| Key findings of Citibank research: |
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- Almost 70% are concerned they may not have enough to live on when they retire
- 84% do not have a formal plan for their investment future
- 50% have an "opportunistic" approach to investing, relying on financial media and social circles for investment opportunities
- Under 50% feel confident and self reliant in making investment decisions
- 70% say they need to know more about investing and investments
- Fear of losing what has taken years to build is the driving force behind many investment decisions today, with wealth growth a distant second
- Just under 50% feel they are not getting the best from their investments
- 60% feel their investments could be better managed
- Just over 50% had calculated their retirement income in the past five years
- Most believe "long term investment" is 12 years; "short term" is 3 years
- Property, shares and funds are considered "long term" (however 20% still feel shares are "short term" asset)
- In terms of liquidity, 60% feel that a share is a liquid asset, while over 30% feel the same way about managed funds
- 30% leverage their property for other investments, primarily other property investments
- Just over 50% had calculated their retirement income in the past five years
- 72% think "wealth management" simply means "superannuation" or "retirement planning".
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| The independent research conducted for Citibank defined high income earners as fulltime workers, aged 30 years plus who have more than $100,000 in investible assets and earn over $50,000. |
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| The survey - undertaken April-May 2002 - was based on 500 interviews in Victoria and New South Wales. |
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| For media enquiries: |
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| Please E-mail: newsroom.australia@citigroup.com |
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| Citigroup (NYSE: C), the preeminent global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com |
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