NEW YORK (AP) -- Wealthy Americans are more optimistic about the stock market now than they were last year, but they also believe gains will be more muted in the future, according to a survey released Tuesday. ADVERTISEMENT
The 2006 U.S. Trust survey of affluent Americans, the 25th in a series begun by the New York-based wealth management company in 1993, measures the confidence of a sample of the top 1 percent wealthiest Americans -- those with an adjusted gross income of more than $300,000 or a net worth greater than $5.9 million.
The study found that 63 percent of respondents were optimistic about their U.S. stock market investments, up from 48 percent in 2005 but still below the 2004 high of 66 percent.
Still, the wealthy are concerned about future returns, the study found.
Asked to identify their top financial worries, the respondents expressed concern that stock market gains will be lower in the future. They also worried that their children will have a tougher time financially, terrorism could hurt the economy and inflation could eat away at investments.