Are all millionaires rich? Not for those who ask them. A whopping 70% of these with a minimum of $1 million in belongings which are invested or accessible to speculate, excluding house values, don’t contemplate themselves to be rich, in accordance with a survey of 4,500 prosperous traders by UBS. CNN Cash stories:

Fairly, it’s solely once they hit the $5 million mark that millionaires start to really feel “rich.” Why $5 million? Apparently, that’s the extent at which most wealthy individuals really feel they’ve “no constraints on actions,” in accordance with the survey.

Along with feeling like cash isn’t any object, most rich individuals additionally discover it vital to carry a considerable quantity of their fortune in money as a result of it helps them really feel safer.

“Holding a major amount of money is is a vital element of investor confidence, as traders consider these are belongings they gained’t lose,” the survey mentioned. “Traders aren’t fast to neglect the numerous losses they endured in 2008.”