High net investors: Half expect recession soon
Slightly more than half the affluent investors in Atlanta think a recession is on the horizon, while one-in-four think we are in recession now, according to a poll released Wednesday.
A downturn will come within five years, say 51 percent of the “high net worth” investors in the region surveyed as part of the Morgan Stanley Wealth Management Investor Pulse Poll, a regular survey done locally and nationally.
The poll includes people who have “investable” assets of $100,000 or more.
Among those with $1 million or more in investable assets, just 8 percent think the US economy is in a recession, according to Morgan Stanley.
To protect themselves against the impact of a recession, 55 percent of the high net worth investors said they have changed their financial behavior since the Wall Street meltdown and recession of 2008.
The most common steps: putting more money away for retirement and paying off debt.
About the Author
Michael E. Kanell, the AJC's economics writer, has been reporting on jobs, housing and the economy at the AJC for nearly two decades. He has appeared on television and radio to analyze and report on business and economic developments.
