Majority of Investors with $1 Million or More in Assets do not Consider Themselves Wealthy, According to Ameriprise Study

Minneapolis – Being a millionaire may not be what it used to be. Only 13 percent of people who have one million dollars or more in investable assets consider themselves wealthy, according to newly-released data from Ameriprise Financial (NYSE: AMP). The new data is part of the Ameriprise Modern Money study, which surveyed more than 3,000 U.S. adults ages 30-69 with at least $100,000 in investable assets, including more than 700 millionaires. The research explores how investors navigate their financial lives, from managing their day-to-day household budgets to long-term investing, and how they perceive money. 

Investors Feel Financially Confident, but Worry about the Next Generation in their Family, Ameriprise Study Reveals

Minneapolis – April 10, 2019 – Modern Money, a new study released today by Ameriprise Financial (NYSE: AMP), reveals 78 percent of investors say achieving financial success has been the same or easier for them than it was for their parents at the same age, but over half (51 percent) think it will be harder for the next generation in their family to feel comfortable financially. The study, which surveyed more than 3,000 U.S. investors ages 30 to 69 with at least $100,000 in investable assets, explores how attitudes toward conventional financial goals such as homeownership, supporting children, and retirement have shifted across generations. The study also sheds light on how these changes impact investors’ relationship with money.

Ameriprise Study: Retirees Ready, but Reluctant to Spend Savings

While retirees have worked hard to save and invest for their next chapter, new research from Ameriprise Financial finds many of them aren’t tapping their nest eggs. The new study, Making Money Last, reveals only 21 percent of retirees feel confident about drawing down their assets.