Via ThinkProgress, a survey of investors reveals the self-perception of the affluent in our deeply unequal society. More than two-thirds of millionaires do not feel that they are wealthy, and two-fifths of those with more than $5 million still feel non-wealthy:
… Read the rest
Rich investors say that it takes at least $5 million to feel wealthy, according to a new investor sentiment report from UBS.
They also define being wealthy not as having a certain amount of money, but having “no financial constraints on what they do.” That does indeed likely come with a large price tag.
The inflation of how much the rich thinks it takes to be rich comes at a time of skyrocketing income inequality. The good news for the uber rich is that less than 20 percent have a pessimistic view of the long-term economic outlook. That differs sharply from the general population, as half of Americans say the economy is getting worse.