A new poll of over 860 rich consumers ($500,000 – over $25 million net worth) by Elite Traveler magazine shows how the current market volatility is affecting them. It looks at the responses of participants in five ranges ($500,000-$1 million; $1-5 million; $5-10 million; $10-25 million; over $25 million) to 11 questions on how market volatility is impacting their lifestyle and spending habits in 2007. Households with a net worth of $10 million or more are much less likely to be cutting back and continue to spend on high fashion, watches, jewellery, travel and other luxury products and services. According to the research, respondents with $5-10 million are anxious and making cutbacks in discretionary spending. Those households with $5 million or less are actively "trading down" to a less expensive lifestyle. While only 9.1 per cent of the top group stated they would need to make "major lifestyle changes" if the market deteriorates, the percentages rose to 24 per cent of $10-25 million; 67.3 per cent of $5-10 million; 77.9 per cent of $1-5 million and 94 per cent of $500K-$1 million.