Millionaires Feeling Poor: New Survey Reveals Financial Insecurity

New survey reveals that only one third of American millionaires feel wealthy, challenging traditional ideas of financial success. Many millionaires worry about outliving savings, taxes, and long-term care costs. Experts suggest the definition of wealth has changed due to inflation, rising taxes, and increased costs of living. Americans now believe they need an average net worth of $2.3 million to feel wealthy, a significant increase from previous years. Financial experts recommend creating a clear financial plan, prioritizing debt repayment, and increasing savings to combat feelings of financial insecurity.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.