The Color of Money is Blue - and Red
Millionaires are more partial to blue and red than the rest of us. Learn more about the color of money.
Did you know that Millionaires are more likely than the general population to like blue and red? We decided to explore the color of money and asked affluent investors surveyed in March, “What’s your favorite color?”
Blue is the most popular color – preferred by 44 percent of investors from a range of wealth levels. Green is next (16 percent), followed by red (11 percent). Purple emerges as the fourth most favorite (9 percent) and black the fifth (5 percent). (Perhaps there were a lot of TCU and West Point alums in our sample.)
Our look into the color of money shows the preference for blue deepens steadily with wealth. Close to half of high net worth Millionaires – those with $5 million or more to invest – say their favorite color is blue. The share falls below 38 percent for individuals with less than $100,000 in investable assets. The preference for red also increases – from roughly 10 percent of the least affluent to 18 percent of the most - and the popularity of green declines. Folks who earn $200,000 or more a year also strongly prefer blue, followed by red. And, the color of money is definitely not purple or black. High net worth Millionaires are the least likely to prefer either one.
What to make of these insights into the color of money? Psychologist, marketing professionals and new age healers – think auras – study color preferences to learn what a favorite color might say about a person. The insights can help build a company brand, package and sell products, and create soothing or stimulating environments. Cultural background, age and gender influence color preferences, but the western world commonly associates blue with sadness, wisdom, a serious outlook on life and concentration on goals. Red is a vibrant color associated with an outgoing, even aggressive personality – someone who’s optimistic and wants to live life to the fullest. Green connotes harmony and balance. Purple people are seen as artistic and unique, and those who prefer black can be artistic and sensitive.
What can you gain from our insights into the color of money? Well, if you ever have to buy a tie for a Millionaire go for blue – or maybe red.