Does $1M make you wealthy? Many investors say no
Sometimes $1 million isn't enough.
According to a quarterly UBS Investor Watch survey, nearly 70 percent of investors polled said a million bucks didn't make them wealthy.
To feel “wealthy,” most investors said they'd need at least $5 million, according to the report.
The poll found that half of investors define wealth as being able to live without financial constraints. About 10 percent defined being wealthy as never having to work again.
“Investors are telling us that wealth isn't just about money. It's about being able to do what you want to do when you want to do it,” said Emily Pachuta, head of investor insights for UBS Wealth Management Americas.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Microsoft keeping $93B offshore, off U.S. tax rolls
- Thousands of American steel jobs believed lost to import surge
- Beware mergers’ bad spawn
- Instead of clarity, Federal Reserve Chair Yellen offers more uncertainty on interest rate hikes
- Advocacy group requests investigation of Chrysler power system failures
- Many in Pennsylvania can still get benefit of Affordable Care Act
- McDonald’s names president of U.S. division
- Utility regulator seeks $639,000 in penalties from electric supplier
- GM’s legal team targeted in federal investigation
- Dynegy to spend $6.25B on power plant acquisitions
- Central banks around globe moving in different directions