Are all millionaires rich? Not when you ask them. A whopping 70% of these with a minimum of $1 million in belongings which can be invested or obtainable to take a position, excluding residence values, don’t think about themselves to be rich, based on a survey of 4,500 prosperous buyers by UBS. CNN Cash experiences:
Moderately, it’s solely after they hit the $5 million mark that millionaires start to really feel “rich.” Why $5 million? Apparently, that’s the extent at which most wealthy individuals really feel they’ve “no constraints on actions,” based on the survey.
Along with feeling like cash isn’t any object, most rich individuals additionally discover it vital to carry a considerable quantity of their fortune in money as a result of it helps them really feel safer.
“Holding a major amount of money is is a important part of investor confidence, as buyers imagine these are belongings they received’t lose,” the survey stated. “Traders aren’t fast to overlook the numerous losses they endured in 2008.”