Spectrem Group announced that its Spectrem Affluent Investor Index fell three points in March, slipping from mildly bullish to neutral territory.

The index, which measures the investment outlook of households with US$500,000 or more in investable assets, had posted its fourth-straight gain in February. That advance was mirrored by the Spectrem Millionaire Investor Index, which rose from an all-time low in October 2005 to within two points of its record high in February. However, like the affluent index, the millionaire index ended its four-month run in March, declining four points, although it remains in mildly bullish territory.

“Affluent investors and millionaires alike exhibited a modest decline in investment optimism in March,” said George Walper Jr., president of Spectrem Group. “Everyday issues such as the economy, unemployment and health issues are now occupying the minds of both affluent investors and millionaires. Given this information, the big question is whether March’s declines represent a pause in a continued advance or a major trend reversal.”

In response to an open-ended question about the biggest threat to their household financial goals, affluent investors cited: the economy (10%), unemployment (10%), health issues (8%), oil and gas prices (4%) and the cost of living (2%). Concern about unemployment rose from 7% in December 2005, the last time this question was asked, and 6% in September 2005.

Similar to the affluent, 10% of millionaires cited unemployment as the greatest threat to their household financial goals. Ranking immediately behind unemployment for millionaires were the economy (9%) and health issues (9%).

The Spectrem Affluent Investor Index has a margin of error of plus or minus 6.2 percentage points.