TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Does $1M make you wealthy? Many investors say no

About The Tribune-Review
The Tribune-Review can be reached via e-mail or at 412-321-6460.
Contact Us | Video | Photo Reprints

By The Los Angeles Times

Published: Wednesday, July 24, 2013, 12:01 a.m.

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

Most-Read Business Headlines

  1. Highmark’s insurance profit falls 40%
  2. Corbett: Coal is working
  3. Mastech Holdings records 51 percent profit jump in 1st quarter
  4. PNC’s CEO elected board chairman
  5. Drugmakers ready to carve out deals any way they can
  6. BNY Mellon notches $661M profit in 1st quarter
  7. McDonald’s profit slips amid weak sales
  8. ATI takes 1st-quarter loss, but says outlook is good
  9. ‘Old GM’ defense expected in court fight over faulty ignition switch
  10. Google challenges nonprofits on ideas to use Glass
  11. Young visionaries at PieceMaker Technologies Inc. see future in 3-D
Subscribe today! Click here for our subscription offers.