America’s rich have a sober outlook on the U.S. economy headed into 2016, with more millionaires assuming another year with a flat S&P 500 index leading to a lower personal rate of return and a majority belief among millionaires that household income will remain the same. Meanwhile, the rich are concentrating investments in only a few stock sectors, and more so outside the stock market entirely.
Less than half of millionaires (46 percent) believe the S&P 500 will be up by 5 percent to 10 percent next year, according to the Fall 2015 CNBC Millionaire Survey, representing a slight decline from the Spring 2015 survey. But significantly more millionaires think the S&P will be flat in 2016: 25 percent vs. 17 percent last spring.
