Readers of IPC Media’s specialist interest magazines, such as Country Life, Horse & Hound and Decanter, have revealed in research that the recession has had a relatively limited impact on their lives.
Many of the resilient rich (66%) are spending just as much as they used to on areas that are important to them, and almost two fifths still spend money as and when they want. Moreover, seven in ten think now is a good time to pick up bargains on expensive items and 40% believe the time is right to invest.
Who are the resilient rich?
The resilient rich identified by the research have an average age of 49 and are in the AB social grade. They have an average household income of £102,000 and are working either full or part-time. Almost a quarter privately educate their children.
The vast majority (83%) of the resilient rich keep a close eye on their finances. Six in 10 don’t put off sorting out their financial affairs and 58% spend time making sure their finances are optimised.
They have a wide portfolio of investments, with savings accounts, property in the UK, and stocks and shares being the most popular options. More than half (57%) feel it’s a good time to invest in property, while 32% are considering changing their savings accounts.
Many resilient rich are also planning to switch their insurance policies, and those they are most likely to change are car insurance (69%), home insurance (55%) and contents insurance (43%).
Gina Lee-Young, head of Insight at IPC Inspire, says: “No-one is immune to this economic downturn, but it’s interesting to see the optimism within this group of resilient rich. Rather than being cautious during these times, they’re continuing to spend, even capitalising on the situation by looking for deals on expensive items.”
About the research
IPC says: “The Resilient Rich research had a sample size of 1,400 adults who regularly read an IPC Inspire magazine or visit an IPC Inspire website.
Brands include: Horse, Horse & Hound, Eventing, Country Life, Decanter, The Field, Shooting Times, Shooting Gazette, Sporting Gun, Shootinguk, Web User, Trusted Reviews, Golf Monthly, Rugby World, Yachting World, Yachting Monthly, Motor Boats Monthly, Motor Boat & Yachting and YBW.com.”
