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Top-Line 2006–07 Affluent MacroMonitor Introduction Table of Contents   Download Top-Line Highlights   Download the complete Top-Line Introduction This Top-Line volume provides the responses of affluent households to the 2006–07 MacroMonitor survey questionnaire. This volume follows the order of the survey questionnaire fielded in the summer of 2006. For example, responses to each question on page A-1 of the questionnaire will be on page A-1 or A-1a in this volume. Affluent households are those whose annual income is $100,000 or more or whose total assets, excluding their primary residence, is $500,000 or more. In the summer of 2006, when we fielded this survey, 1,849 respondents qualified as affluent, representing 28,286,000 households. The MacroMonitor defines a household as all persons (adults and children) living in the primary home who share basic finances. A household could consist of a single adult (with or without dependent children), married adults (with or without dependent children), or unmarried adults (with or without dependent children) who share basic finances. Sharing basic finances means sharing such financial matters as paying bills, obtaining loans, making investments, and supporting dependent children. The primary home is the place where household members live most (or all) of the year. Most questions describe the respondent population—for example, “Own or Lease Vehicle” or “Own a Mutual Fund.” If the question describes no respondent population, the respondent population is “All U.S. Affluent Households.” The weighted number of households answering a question is the “base” for that question. Responses to each question appear as percentages of its base. An asterisk (*) in place of a numerical percentage indicates that the percentage is greater than 0 but less than 1; a dash (–) indicates no response. The answers to each single-response question should sum to 100%. In some cases, the sum will be slightly larger or smaller than 100% because of rounding. Where comparable, we show trend information from the 2004–05 Affluent MacroMonitor. When trend information is available, it appears in italics to the right of or below the 2006 data. If we used alternative question wording previously, a footnote will so indicate. An n.a. indicates that we did not ask the item in the pertinent year. A sample question is below. Sample Question—Affluent Top-Line   A. 9.   Overall, who handles most of the major financial affairs of your household? (MARK AN X IN ONE BOX ONLY)     Base: 27,681,000 22,445,000       45% 43% Male head of household   22 23 Female head of household   34 34 Both male and female heads of household     *   * Other The 2006–07 MacroMonitor Affluent analysis report, America’s Affluent: Segmentation for the Twenty-First Century, provides comprehensive analysis and interpretation of the affluent as a group and among relevant, logical, identifiable segments. The analysis is based on CFD’s new Affluent Core Customers segmentation. It classifies households on the basis of where they hold the greatest proportion of their savings and investment assets (the greatest proportion of savings for each type of institution could be at more than one institution of that type): A bank, S&L, or credit union A full-service or discount stockbrokerage A mutual fund company A financial planning company An insurance company An employer-sponsored pension (defined-benefit) plan. This analysis, which includes trended information from the past decade, takes an inflation-indexed perspective on the composition and evolution of America’s affluent population. It examines demographic, attitudinal, financial, and product shifts to glean insight and understanding that will guide people who market to affluent households now and going forward. Four appendixes follow the questionnaire sections. Appendix A outlines the survey methodology, including a description of questionnaire design, sample selection, and fielding. Appendix B describes the procedures to weight the sample to nationally representative distributions. Appendix C provides confidence interval tables for sample tolerance. Appendix D describes the net-worth algorithm and other calculated variables. For further information, or any comments, suggestions, or questions, please contact us. Table of Contents Introduction v Questionnaire Sections   A. Household Information A-1   Family composition A-1   Sex, age, marital status, and financial decision-maker A-2 B. Financial Attitudes and Internet Access and Use B-1   $25,000 windfall B-1   General financial attitudes B-1   Direct marketing B-2   Automatic and alternative access B-4   Financial services over the Internet B-5 C. Use of Financial Institutions C-1   Primary institution C-1   Attitudes toward institutions C-1a   Banks, savings & loans, and credit unions C-2   Insurance companies C-5a   Mutual fund companies, stockbrokerages, and financial planning companies C-8   Consumer finance, vehicle finance, and other finance and credit companies C-11   Share of wallet C-13 D. Checking, Savings, and Other Accounts D-1   Checking accounts and regular or passbook savings accounts D-1   ATM and debit cards D-2   Money market deposit accounts and money market mutual funds D-3   Packaged accounts and asset management accounts D-4   Wrap or separately-managed accounts D-6   Cusotdial accounts, education savings accounts, and 529 plans D-7   Private banking D-8   Recent and likely account activity D-8a E. Investments E-1   Investment goals E-1   Investment factors and risk–return tradeoff E-1a   Investment attitudes E-2   Discretionary income E-3   Certificates of deposit E-3   U.S. Savings Bonds E-4   U.S. Treasury Securities E-4   Stock and bond mutual funds E-4b   Stocks, bonds, and other securities E-9a   Stockbrokerage accounts E-10   Trading activity E-10a   Margin agreements and accounts E-11a   Personal trusts E-12   Limited partnerships E-12a   Tangible assets E-13   Recent and likely investment activities E-13a F. Retirement Products F-1   Retirement attitudes F-1   Retirement status and concerns F-1a   IRAs and SEPs F-2   Keogh accounts F-4   Salary-reduction plans F-5   Individual annuities F-7   Defined benefit pension plans F-9   Recent and likely retirement activity F-10 G. Real Estate G-1   Primary home G-1   Homeowner's and renter's insurance G-1a   Mortgages, home loans, and lines of credit on primary home G-2   Mortgage life and disability insurance on primary home G-4a   Other real estate G-5   Mortgages, home loans, lines of credit, and insurance on other real estate G-5a   Reverse mortgages G-6   Recent and likely real estate and credit activity G-6a H. Vehicles H-1   Vehicle ownership, loans, and leases H-1   Vehicle insurance H-3   Recent and likely vehicle activity H-3a J. Consumer Loans J-1   Purposes for borrowing J-1   Attitudes toward credit J-1b   Installment loans, education loans, other loans, and credit lines J-2   Recent and likely consumer credit activity J-3a K. Credit Cards K-1   Credit cards—Visa, MasterCard, Discover, American Express, and retail store K-1   Affinity and reward components K-2   Travel and entertainment cards K-4a   Smart cards and stored-value cards K-5   Recent and likely card activity K-5a L. Life Insurance L-1   Attitudes toward insurance L-1   Group life insurance L-2   Individual life insurance L-2a   Term life insurance L-3   Whole life (straight life) insurance L-3a   Universal, variable, and interest-sensitive life insurance L-4   Policy loans L-5   Most recent insurance purchase L-5   Recent and likely life insurance activity L-6a M. Other Insurance M-1   Attitudes toward health insurance M-1   Liability and accident insurance M-1   Health insurance—group and individual M-2   Health-related insurance—group and individual M-2   Health Savings Account M-3   Recent and likely health insurance activity M-3a N. Information and Advice N-1   Financial status and confidence N-1   Attitudes toward financial information and advice N-1a   Use of financial professionals N-1a   Time, trust, and control N-3   Type of financial advice likely to obtain N-4   Information sources and topics N-4a O. Demographics (Background Information) O-1   Major life events O-1   Membership in organizations and associations O-2   Education O-2a   Employment status O-3   Retirement age O-4   Occupation O-4a   Business ownership O-5   Income—source, amount, percent contribution O-6   Ethnicity and respondent identity O-7 Glossary P-1   Appendixes   A   MacroMonitor Survey Methodology AA-1   B   Survey Weighting Procedures BB-1   C   Sampling Tolerance Tables CC-1   D   Calculated Variables DD-1

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