Tuesday, March 15, 2011

The View From the Millionaires

You can add one more group of people to the list of those who have grown optimistic about this recovery: millionaires. Fidelity Investments recently surveyed more than 1000 American decision-makers in households with at least $1 million in investable assets, and found that their optimism was the highest it's ever been since Fidelity began running this survey in 2006.

The survey asks the millionaires to rate their feeling about the future of the economy, with -100 being most negative and +100 being most positive. The future outlook for this group currently stands at +37. Back in 2006, long before the recession hit, the number was only at +6, the previous high-water mark.

One other interesting finding was that these people did not consider themselves wealthy, despite the fact that they averaged $3.5 million in investable assets and $379,000 in annual income. How much did they think it would take to feel wealthy? An asset level of $7.5 million.

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