Feel Rich With A Million Bucks?
Sometimes I feel rich when I have a little extra cash at the end of the month.. Check out this article from Wisebrother.com. 42% of American Millionaires say they don’t feel rich, they would need at least $7.5 Million!
According to a survey by Fidelity Investments of more than 1,000 millionaires, 42% of them, or more than two out of five, say they DON’T FEEL RICH.
When the survey asked how much it would take to feel rich, the average came out to $7.5 million. So if you’ve only got $7 million, you might as well start eating ramen noodles and driving around looking for used furniture.
The average person in the survey was 56 years old and had an average of $3.5 million.
For the survey, people’s wealth was based on their investable assets, not counting any real estate or retirement accounts.
Sanjib Mirchandani is the president of National Financial, which is a unit of Fidelity. He says, quote, “Every person in the survey is wealthy. But they are still worried about outliving their assets.”