US millionaires need extra $5 mln to feel rich

More than one-quarter of American millionaires say they don’t feel wealthy, but they would if they had an extra $5 million.

According to the Fidelity Investments’ Millionaire Outlook  report, which surveyed more than 1,500 respondents, 26 percent of those polled said they did not actually feel rich.

But despite that feeling millionaires control 40 percent of global wealth.

They can easily be spotted in New York, where there are a reported 7,270 people each worth more than $30 million.

Article Continues Below

The Fidelity report seeks to provide investors with a snapshot of a typical millionaire.

Fidelity found that today’s millionaire is, on average, 61 years old with $3.05 million in assets.

These respondents were more optimistic about the future financial environment than at any other time in the survey’s five-year history.

0 views CF TEST

Follow IWB on Facebook and Twitter