“A whopping 70% of those with at least USD 1 million in assets that are invested or available to invest, excluding home values, don’t consider themselves to be wealthy… Rather, it’s only when they hit the USD 5 million mark that millionaires begin to feel ‘wealthy’.”
Who said it: CNN Money
In Context: Most millionaires don’t feel wealthy until they have more than five million dollars in assets, according to a new wealth survey by UBS. This was the fourth edition of UBS Investor Watch, which queried 4,450 US-based investors from June 23 to July 1, 2013. Slightly more than half of the respondents were men. One of the most surprising findings says the survey author, is that four out of five investors are providing financial support for adult children or aging parents. And one in five is sharing a home with those adults. The top two personal concerns for investors are long-term care and the financial situation of children and grandchildren.
Where we found it: CNN Money