Social media and technology usage has increased among ultra-high-net-worth and millionaire investors, according to a new Spectrem Group report.
The study found that millionaires 55 years of agae and older and retired are spending more time on social media sites like Facebook and LinkedIn as well as YouTube, as well as using smart phones, tablets and e-readers more frequently. Forty-four percent of UHNW investors that are 65 and older own tablets or e-readers while 45% of UHNW investors aged 55-64 own smart phones. And they're not just using them for checking financial account information. According to the study, older millionaire investors are using their smart phones, tablets and e-readers to for a variety of things like talking, checking mail and paying bills.
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