How much money does one have to have to be considered “wealthy”? More than you probably think, according to UBS’s Investor Watch survey. Sixty-nine percent of millionaires do not consider themselves to be wealthy. But having $5 million in investable assets may land your clients among the “wealthy,” as 60 percent of these investors consider themselves rich. By comparison, only 28 percent of investors with $1 million to $5 million believe they are rich.
“Investors are telling us that wealth isn’t just about having a certain amount of money,” the survey report says.
Fifty percent of investors define wealth as having no financial constraints on what they do, while only 16 percent say it’s about surpassing a certain asset threshold. UBS surveyed a total of 4,450 U.S. investors with at least $250,000 in investable assets from June 23 to July 1.
