• Home
  • Personal Finance
  • Investing
  • Business
  • Career
  • Consumer
  • Debt
  • Lifestyle
  • Retirement
  • Taxes

Personal Finance News

Latest News About Personal Finance

  • Blogger Net Worths
  • Top Personal Finance Blogs
  • Blogroll

70% of Millionaires Don’t Consider Themselves Wealthy

August 28, 2018 Leave a Comment

Are all millionaires wealthy? Not if you ask them. A whopping 70% of those with at least $1 million in assets that are invested or available to invest, excluding home values, don’t consider themselves to be wealthy, according to a survey of 4,500 affluent investors by UBS. CNN Money reports:

Rather, it’s only when they hit the $5 million mark that millionaires begin to feel “wealthy.” Why $5 million? Apparently, that’s the level at which most rich people feel they have “no constraints on activities,” according to the survey.

In addition to feeling like money is no object, most wealthy people also find it important to hold a substantial amount of their fortune in cash because it helps them feel more secure.

“Holding a significant amount of cash is is a critical component of investor confidence, as investors believe these are assets they won’t lose,” the survey said. “Investors aren’t quick to forget the significant losses they endured in 2008.”

Related

Leave a CommentCancel reply

Must Read

  • What's the Recommended Temperature for Vacant Home in Winter?
  • How to Reach a Live Person at IRS to Resolve Tax Problems
  • Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes
  • How One Employee Got Away After Stealing $103 Million
  • How to Refinance a Paid Off Car
  • Two-Thirds of Americans Live Paycheck to Paycheck
  • Professional Panda Cuddler as the World's Best Job for $32,000 per Year
  • John Bogle Net Worth
  • Amazon Cash: Now You Can Pay With Cash on Amazon
  • The Best Day of the Week to Buy Mutual Funds

Recent Posts

  • 47% of Americans Say Achieving Retirement Security Will Take a Miracle
  • Which Cryptocurrency Should You Invest In?
  • Apple Launches Apple Card’s Savings Accounts With 4.15% Interest Rate
  • More Americans Are Using ‘Buy Now, Pay Later’ Services To Pay for Groceries
  • 5 Tips To Get The Best Value On An Insurance Policy
  • 61% Now Living Paycheck to Paycheck
  • 36% Earning $100,000 or More Living Paycheck to Paycheck
  • Two-Thirds of Americans Live Paycheck to Paycheck

Connect With Us

  • Facebook
  • Twitter
Home · About · Terms · Privacy · Contact · Copyright © 2025 · Personal Finance News