MINNEAPOLIS (WCCO) — Most people who have $1 million or more in investable assets do not consider themselves wealthy, according to new data.
According to the Ameriprise Modern Money study that surveyed more than 3,000 adults in the United States, only 13 percent of people with $1 million or more in investable assets consider themselves wealthy.
“Building wealth is often a complex journey,” Marcy Keckler, Vice President of Financial Advice Strategy at Ameriprise, said. “The reality is even people who have accumulated seven figures juggle many financial goals, wants and needs. It takes careful planning for investors to reach the financial milestones they’ve set out for themselves, even for those who’ve built sizeable nest eggs already.”
Other findings in the study were that saving for retirement is the No. 1 financial priority for respondents across all generations.