Follow-up to “Fundraising in Hard Times”
This is from today’s Wall St. Journal:
“According to a new survey from American Express Publishing and the Harrison Group, nearly half of respondents with incomes of $250,000 or more agreed with the statement that “I worry that at some point I could run out of money.” Thats up from about a third in April.
Fully 69% agreed with the statement that “The recent real estate and banking crisis has affected my sense of financial security.”
Of course, $250,000 is only “Obama wealthy.” And running out of money “at some point” is a long time horizon. Yet the survey suggests that even high-income earners are cutting back their spending for fear of what the financial future might bring. Fully two-thirds say that they are “looking closely at every spending category to see where I can save.””
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This is the group that I mentioned that used to be a reliable participant at auctions but is now far more cautious. We need to re-engage. It all goes back to “Laser-beaming the message”.
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