'RATs Furious as U.S. millionaires say $7 million not enough to be rich!
- From: Patriot Games DemocRATHallofShame.Comę <patriotgames@xxxxxxxxxxxxxxxxxxxxxxx>
- Date: Tue, 15 Mar 2011 08:41:18 -0400
U.S. millionaires say $7 million not enough to be rich
Mon, Mar 14 2011
NEW YORK (Reuters) - A million dollars ain't what it used to be.
More than four out of ten American millionaires say they do not feel
rich. Indeed many would need to have at least $7.5 million in order to
feel they were truly rich, according to a Fidelity Investments survey.
Some 42 percent of the more than 1,000 millionaires surveyed by
Fidelity said they did not feel wealthy. Respondents had at least $1
million in investable assets, excluding any real estate or retirement
"Every person in the survey is wealthy," said Sanjiv Mirchandani,
president of National Financial, a unit of Fidelity. "But they are
still worried about outliving their assets."
The average age of respondents was 56 years old with a mean of $3.5
million of investable assets. The threshold for "rich" rose with age.
"They compare themselves to their peer group ... and they are also
thinking about the long period they will have in retirement and want
more assets" to fund their lifestyle, said Michael Durbin, president
of Fidelity Institutional Wealth Services.
Still, millionaires are slightly more optimistic now than they were in
2009, when 46 percent did not feel wealthy.
Respondents were also more optimistic about the U.S. economy. While
they thought the current U.S. economy remained very weak, they think
it will improve by the end of this year.
Fidelity noted the wealthiest 5 percent of Americans hold more than 55
percent of the nation's wealth.
The DemocRATs Hall of Shame©!
3/8/11: Galleries Updated! Nearly 600 New Cartoons, Pics...
1/15/11: Clipboard Manager v3.x! (Still FREE!)
Greatly improved, now supports Archiving, Tools, etc!
FREE Windows® Screensavers! Muzzy Screensaver, 15Mb; DemocRAT Screensaver, 18Mb!
FREE Windows® Gadgets! Including: Bumpersticker Slideshow, Obama
Cartoon Slideshow, Take Back America 2010 & 2012!, Are DemocRATs
Ugly?, Is Helen Thomas Ugly?, Is Nancy Pelosi Ugly?, Disco Muzzy
(1 & 2)!, Obama's Lies!, "Uh-Oh! Something's Burning!", and the
Racial Slur Database.
Learn the TRUTH about: BSWS, Bob LeChevalier, Bret Cahill, Brian Wraith,
Chom Noamsky, Clams Casino, Cop Welfare, Curly Surmudgeon, Dakota,
Dave Fritzinger, David Johnston, Freestyle, Gandalf Grey, Iarnrod,
Igor, Joe Steel, Juanjo, Kevin Cunningham, Kurt Lochner, Lorad,
Lamont Cranston, Lookout, Lickin Ass' and Fakin' Names, Malcolm Abel,
Lubow, Major Debacle, Michael Coburn, Mitchel Holman, Phlip, Peter
Principle, Ramon Herrera, Ramrod, Ray Fischer, Rightardia, RobW, Rod
Speed, Roneal, Sanders Kaufman, Scotius, Sid9, SilentOtto, Siobhan
Medeiros, Snakehawk, Spike Lee, Stile4aly, Tab182, Tater Gumfries,
Tim Crowley, Tim Howard, Tom Sr.
- Prev by Date: 'RATSmack 2012 - Why Liberals Want Gun Shows Stopped
- Next by Date: 'RATSmack! Furious 'RATs Speed-Fisting Themselves as TN socialist teachers have longer tenure road under proposed law
- Previous by thread: 'RATSmack 2012 - Why Liberals Want Gun Shows Stopped
- Next by thread: RE: 'RATs Furious as U.S. millionaires say $7 million not enough to be rich!