by Joanna
This article says exactly what I have suspected for a really long time. Specifically, that the more money people have the more they seem to complain that they "need" more. It seems like there is a trend today that even those with millions of dollars in the bank want to complain that they do not have enough, and want to classify themselves as "middle class".
While most millionaires say they feel wealthy, a large share do not, according to a survey by Fidelity Investments.
Of 1,000 millionaires surveyed last fall, 42 percent said they don’t feel wealthy — and wouldn’t being to until they had $7.5 million in investable assets (what they have without counting workplace retirement accounts or real estate).
Feeling wealthy involves a sense of having more than what you need, said Gail Graham, the executive vice president at Fidelity Institutional Wealth Services. This can include the ability to buy luxurious items, and give your money away to family members
“Many of the respondents are baby boomers, who are supporting their parents and children,” Graham said
Retirement saving is a major worry, even for millionaires. Four in 10 surveyed said having enough money to support their lifestyle after retirement is their biggest concern. SOURCE
