Are all millionaires rich? Not in the event you ask them. A whopping 70% of these with not less than $1 million in property which are invested or obtainable to take a position, excluding house values, don’t contemplate themselves to be rich, in keeping with a survey of 4,500 prosperous traders by UBS. CNN Cash stories:
Fairly, it’s solely after they hit the $5 million mark that millionaires start to really feel “rich.” Why $5 million? Apparently, that’s the extent at which most wealthy individuals really feel they’ve “no constraints on actions,” in keeping with the survey.
Along with feeling like cash is not any object, most rich individuals additionally discover it necessary to carry a considerable quantity of their fortune in money as a result of it helps them really feel safer.
“Holding a big amount of money is is a essential element of investor confidence, as traders consider these are property they gained’t lose,” the survey mentioned. “Traders aren’t fast to overlook the numerous losses they endured in 2008.”
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