The Spectrem Affluent Investor Confidence Index (SAICISM) fell 11 points in June to –9, its biggest drop in more than three years.

The index measures the investment confidence and outlook of households with $500,000 or more in investable assets. The Index is now at its lowest level since October 2010, when it stood at –13.

The Spectrem Millionaire Investor Confidence Index (SMICI SM) fell 2 points in June to –1. “The nation’s wealthiest investors overwhelmingly cited the economy as their biggest concern.  Given the worrisome economic news that emerged in June, it’s not surprising to see wealthy Americans struggling with their investment optimism,” said George H. Walper, Jr., President of Spectrem Group.

In response to an open-ended question about the most serious threat to achieving their household financial goals, affluent investors in June cited: the economy (35%); the political climate (14%); market conditions (13%); inflation (9%); unemployment (7%); and health-related issues (1%).  Those citing the economy rose from 22% in March 2011, the last time this question was asked, while those citing the political climate fell from 22%