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Millionaires Name Top 2 Gifts On Their Holiday Wish List

When asked to choose the top two items on their holiday gift "wish list" from among more than 20 possible choices, the wealthy selected gift certificates/money and clothing as the top choices on their wish list for Christmas and Hanukkah gifts in a fall 2011 survey of the wealthiest 10% of U.S. households in the U.S.

Women favored gift certificates/money (47%), clothing (33%), and fine jewelry (25%). Their next two favorites were an iPad/tablet (16%) and home furnishings (11%). The priorities of men were a little different: gift certificates/money (44%), clothing (42%), books/CDs/DVDs (23%), sports equipment (19%), and an iPad/tablet (18%).

Gift certificates/money were mentioned most often by those with an income under $200,000 (54%), and those with a net worth of $800,000 to $1.49 million (55%). Among all respondents, gift cards/certificates were more popular than money/checks.

Clothing was the second most frequently mentioned gift among the various sample segments (ranging from 33% to 43%). Books/CDs, and DVDs were the third most popular gift, being named by 9% to 26% of all groups.

The national survey of affluent consumers included responses from 499 men and women. To be included in this survey, the respondents were required to have a minimum $800,000 net worth, which is the threshold for the 11.4 million households that comprise the wealthiest 10% of U.S. households, according to Federal Reserve Board research. On average, the survey respondents have an income of $282,000 per year and a net worth of $3.1 million. The average value of their primary residence is $1.1 million.

The survey participants were asked to choose their first and second choices of gifts they would like to receive from a list of 20 possible gifts. They were also given the opportunity to name something not listed. The combined total mentions were used to identify the favored gift items shown above.A�

The 20th in a continuing series of twice-yearly surveys that track the 12- month economic outlook and spending plans of the affluent consumers who represent almost half of all consumer income and spending and a third of the total US economy, the latest survey was designed to also answer such questions as how much will the affluent spend for holiday gifts this year, as compared to last year, and where will they buy their gifts.