42 Percent of Surveyed Millionaires Need About $7.5M to Feel Rich
At some law firms, profits per partner are increasing, reaching as high as more than $3 million per equity partner. But do these lawyers feel rich?
A story noted in Pat’s Papers ponders the mindset of wealthy individuals. According to a new online survey, about four in 10 millionaires say they need a lot more money to feel rich.
More specifically, they need about $7.5 million in invested assets to feel wealthy, according to a press release on the survey by Fidelity Investments.
About 58 percent of the millionaires did feel wealthy, and they reached that point at $1.75 million in investable assets. Those people tended to be younger on average, Bloomberg News reports.
The survey collected responses from more than 1,000 millionaires, who had an average of $3.5 million in investable assets.
