How Much Money Makes A Person Feel Rich?
Do you think that $1 million makes a person feel rich? Well, the answer to the question is, 'no.' $1 millions dollars does not make a person feel rich--according to Fidelity Investments, you need $7.5 million to feel that way.
How the investment company got the data was by surveying American millionaires, and, of those surveyed, 42 percent of millionaires didn't feel rich. To have qualified for the Fidelity survey, the participants had to have at least $1 million in investable assets, and, that could not include real estate or retirement accounts.
Fidelity found that although all the millionaires surveyed do have a lot of money, they didn't feel wealthy because they feared they would outlive their assets. The average age of the people surveyed was 56 years old.
How much money do you have to have to feel rich?