Yield of Dreams

Millionaires: Party Poopers on New Year’s Eve

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Hoping to meet some promising prospects at a New Year’s Eve party? Think again. Most millionaires plan to stay at home on New Year’s Eve, according to a survey by Spectrum Group’s Millionaire Corner.

According to the survey, only 11 percent of millionaires—those with investable assets of $1 million to $5 million—plan to go out and party on New Year’s. Only 10 percent plan to go to a restaurant. Seven percent will be traveling and 2 percent plan to attend an event, such as a concert or bowl game.

Meanwhile, 30 percent plan to go to bed early, while 35 percent plan to stay up and watch the ball drop in Time’s Square and 26 percent will entertain friends at home.

High-net-worth investors—with $5 million to $25 million in investable assets—may be more promising. A slightly lower percentage (29 percent) plan to go to bed early, but the majority still plans to celebrate at home. There’s always next year…

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Casting a gimlet-eye on the independent broker/dealer channel and asset management issues.

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