TribLIVE

| Business


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

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

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Los Angeles Times
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.

Subscribe today! Click here for our subscription offers.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Kennametal plans plant closings, job cuts; fallout from oil and gas decline
  2. Wolf signs ban on new drilling beneath state land
  3. Pipeline companies weather downturn in prices of natural gas, oil
  4. BNY Mellon is putting iconic Citizens Bank Tower up for sale
  5. Super Bowl ads win by playing to viewers’ emotions, experts say
  6. U.S. Steel maps out greater efficiency for 2015
  7. Pennsylvania shale gas producers received hundreds of environmental citations in 4 years, PennEnvironment says
  8. U.S. Steel warns it may lay off almost 2,000 workers in Alabama, Texas
  9. Chevron laying off 162 workers from Moon-based unit
  10. Hard-hit worker wonders where the economic resurgence is
  11. Super Bowl draws big increase in first-time advertisers