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. More women seize opportunities to start businesses
  2. Meat prices drain barbecue budgets
  3. Pa. unemployment rate falls to lowest since 2008; 12,000 more enter workforce
  4. Pandora sued by record companies
  5. Salad dressing company manages growth
  6. Lawsuit challenges Hollywood standard of unpaid internships
  7. Low pay, commutes among top stressors
  8. Retailers tailor store experience to phones
  9. Record cold facilitates coal’s comeback
Subscribe today! Click here for our subscription offers.