Connect with us

Fun

Sudden Windfall? Jewelers Would Put It in the Bank!

What if you suddenly had $250,000?

mm

Published

on

What if you suddenly had $250,000?

If a favorite aunt left you $250,000, 29 percent of you would bank it or invest it for later use, according to the 2017 Big Survey.

The results display a bit more of a conservative bent than in 2008, when just 20 percent of respondents chose that answer.

Twenty-three percent would use the money for paying down debt, down from 32 percent in 2008. Likely because jewelers are carrying less debt now than they did then. In 2017, fully a third of jewelers report they carry no debt at all, which marks a significant change from pre-recession 2007, when only 24 percent were debt free.

In 2007, 30 percent of jewelers carried more than $100,000 in debt. Ten years later, that percentage had dropped to 22 percent.

Below are the full results. And you can see all the results of the 2017 Big Survey in the October edition of INSTORE.

Advertisement

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Downsizing? Wilkerson Is Here to Help

Orin Mazzoni, Jr., the owner of Orin Jewelers in Garden City and Northville, Michigan, decided it was time to downsize. With two locations and an eye on the future, Mazzoni asked Wilkerson to take the lead on closing the Garden City store. Mazzoni met Wilkerson’s Rick Hayes some years back, he says, and once he made up his mind to consolidate, he and Hayes “set up a timeline” for the sale. Despite the pandemic, Mazzoni says the everything went smoothly. “Many days, we had lines of people waiting to get in,” he says, adding that Wilkerson’s professionalism made it all worthwhile. “Whenever you do an event like this, you think, ‘I’ve been doing this my whole life. Do I really need to pay someone to do it for me?’ But then I realized, these guys are the pros and we need to move forward with them.”

Promoted Headlines

Most Popular