BOSTON, March 14 (UPI) -- Four out of 10 U.S. millionaires -- each with an average of $3.5 million in investable assets -- say they do not feel wealthy, a survey found.
The average respondent in the survey conducted by Fidelity Institutional Wealth was a 56-year-old male with an annual household income of $379 thousand. Eighty-six percent of those surveyed have college degrees with 46 percent holding graduate degrees. ABC News reported Monday.
Gail Graham, an executive vice president in Fidelity Institutional Wealth, noted the responders' definitions of wealth are based "where you are in your life cycle compared to retirement, and what you believe your spending patterns will be in retirement."
Three quarters of millionaires say they feel financially secure and 81 percent of survey participants say they are careful about their spending, the survey showed.
The ability to support their lifestyles was of pressing concern to 43 percent of millionaires responding to the survey.
Graham said the attitudes of millionaires are both a "leading indicator and a causal factor" of the direction of the economy. Millionaires represent 56 percent of the nation's wealth and they "have the power to make what they believe happen."
Those surveyed represent 5 percent of U.S. households, with 60 percent of participants male and 40 percent female, ABC reported.
No details on the poll's methodology were reported.
The average respondent in the survey conducted by Fidelity Institutional Wealth was a 56-year-old male with an annual household income of $379 thousand. Eighty-six percent of those surveyed have college degrees with 46 percent holding graduate degrees. ABC News reported Monday.
Gail Graham, an executive vice president in Fidelity Institutional Wealth, noted the responders' definitions of wealth are based "where you are in your life cycle compared to retirement, and what you believe your spending patterns will be in retirement."
Three quarters of millionaires say they feel financially secure and 81 percent of survey participants say they are careful about their spending, the survey showed.
The ability to support their lifestyles was of pressing concern to 43 percent of millionaires responding to the survey.
Graham said the attitudes of millionaires are both a "leading indicator and a causal factor" of the direction of the economy. Millionaires represent 56 percent of the nation's wealth and they "have the power to make what they believe happen."
Those surveyed represent 5 percent of U.S. households, with 60 percent of participants male and 40 percent female, ABC reported.
No details on the poll's methodology were reported.
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