New Research from UBS asks the question of investors with between $1 and $5 million of investable assets - do you feel wealthy? A surprising 28% do not. When the same question is asked of those with over $5 million in investable assets, over 60% say yes.
Why is this? One of the reasons may be due to uncertainty regarding health care and LTC costs in the future. As the chart below shows, younger people are especially concerned about paying for long-term care. In fact, long-term care is the biggest invesment concern. For those financial advisors who think their millionaire clients can self-insure, they better think again.