The second chapter of the Ameriprise Modern Money study, in which we asked today’s investors how they navigate their financial lives, was recently published. The research revealed that being a millionaire may not equate to perceptions of wealth — in fact, only 13 percent of people who have one million dollars or more in investable assets consider themselves wealthy.
Further findings include the following:
- Building wealth is a complex journey. This is true even for those who have already accumulated seven figure nest eggs.
- The top financial priority for all investors surveyed was saving for retirement. This is true for Millenials, Gen X respondents and Baby Boomers.
- Money attitudes are shifting. About half (49 percent) of respondents said their approach to making long-term investing decisions is different or very different from what they saw their parents do while growing up, compared with 42 percent who say it’s similar or very similar.
- Aligning investments with personal values is becoming more important. Across age groups, 51% of respondents agreed that this is more important today compared with 10 years ago.
Learn more by reading Ameriprise’s public release on Business Wire. Find further details about the Modern Money study here. We also summarized findings from the first chapter of the study, published in April 2019.
