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By most traditional measures, having a net worth of $1 million should put someone firmly in the "wealthy" category. Yet a growing number of millionaires don't see it that way.
Just one third (36%) of the nation's wealthiest citizens — those with at least $1 million in investable ***** ets — consider themselves wealthy, according to Northwestern Mutual's 2025 Planning and Progress study.
Further, nearly half (49%) of American millionaires say their financial planning needs improvement, citing the possibility of outliving their savings, the impact of taxes in retirement, and potential long-term care needs as their top financial concerns.
This gap may be surprising, but it highlights how rising costs, longer lifespans, and shifting expectations have redefined what it means to feel rich in modern America.
#Planning #financial #disclosure #progress
By most traditional measures, having a net worth of $1 million should put someone firmly in the "wealthy" category. Yet a growing number of millionaires don't see it that way.
Just one third (36%) of the nation's wealthiest citizens — those with at least $1 million in investable ***** ets — consider themselves wealthy, according to Northwestern Mutual's 2025 Planning and Progress study.
Further, nearly half (49%) of American millionaires say their financial planning needs improvement, citing the possibility of outliving their savings, the impact of taxes in retirement, and potential long-term care needs as their top financial concerns.
This gap may be surprising, but it highlights how rising costs, longer lifespans, and shifting expectations have redefined what it means to feel rich in modern America.
#Planning #financial #disclosure #progress
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