A fairly simple formula can be applied to American consumers: the more money in, the more money out. People with high incomes spend more than the general population in virtually every major expenditure category. When incomes increase, net worth also climbs. Those Americans with higher incomes are therefore accumulating assets with significant value (primarily a home) and saving more than the average American household.

These factors translate into a population segment that is an important part of the customer base for many different industries. For high-income earners, their greater ability to save and invest makes them an important market for the financial service industry. Higher incomes also enable them to travel more, and to take trips that might be too expensive for many Americans, such as resort vacations. But their overall higher level of spending means that they are also of interest to mainstream retailers, including discounters such as Target and Wal-Mart. High-income consumers also tend to be good customers for online retailers.

This report examines the demographics of high-income households, as well as their expenditures in comparison with the total population. It also provides a detailed examination of their assets and liabilities. Because of their importance as consumers, shopping patterns and attitudes about shopping are considered. Finally, given their greater propensity to travel, this report examines both domestic and foreign travel, as well as cruise and resort vacations.

This report examines the demographics, finances, and expenditures of households with incomes of $100,000 or more. It also utilizes data from the Simmons National Consumer Survey to examine attitudes about shopping and product attributes, as well as the types of retailers frequented by high-income consumers. A section on Internet and catalog shopping details both the likelihood of using these types of retailers, as well as the types of products purchases through these avenues. In addition, it examines various aspects of travel by high-income Americans to gain more insight into their lifestyles as well as their importance to that particular market.

In order to give a larger context to the data on Americans with household incomes of $100,000 or more, comparisons with the total population are provided. Where the additional detail provides a better understanding of this segment of the population, comparisons between high-income respondents to the Simmons National Consumer Survey and all respondents are provided by age, gender, and race and Hispanic origin.