Survey of Millionaires from Fidelity Investments

The most recent Fidelity Millionaire's Outlook survey revealed a lot of insightful information about how millionaire's feel about their own personal investments and the economy.

In terms of building personal wealth, most of those of who participated in the survey revealed that they were self-made millionaires. This means that they either built their wealth by building their own companies or they have become wealthy through their own personal investments. The survey also revealed that most participants believe that the best way to accumulate and maintain wealth is to build it yourself. This is because most people who have had to work hard for their wealth will work harder to maintain and protect it versus someone who "inherits" wealth.

In terms of investing, the survey revealed that most millionaire's today are confident about the stock market. They feel that a large percentage of stocks have performed well during the past year, and feel that this trend will continue for the next 12 months. In terms of what today's millionaire's are investing in, some are investing in certificates of deposit, money market accounts, equity trade funds, and domestic bonds, however the majority are investing in domestic stocks. These individuals still believe that investing in domestic stocks gives them the best return on their investment.

Another interesting trend the survey revealed is that self-made millionaires have more equity investments, while those born into wealth invest more heavily in real estate. The survey also revealed that those born into wealth are more likely to seek professional financial advice than self-made millionaires. It seem that self-made millionaires believe that the same financial wisdom they used to build their wealth also serves them well in terms of making investment decisions.

In regards to planning for the future, most survey participants who have negative views about the country's financial outlook indicated that they are actively seeking advice on retirement planning. This includes developing a strategy that will enable them to have enough money in retirement to support their lifestyle. In most cases, when a millionaire finds a retirement adviser they trust, they will maintain that relationship even if the adviser moves to another firm.

Despite the weakness of the economy, many millionaire's are still making major business and personal purchases. However, most are still somewhat cautious when it comes to investing in real estate. Some of this trepidation comes from the current high rate of foreclosures and unstable housing markets throughout the country.

According to the latest survey, the average millionaire today is about sixty one years old and has over 3 million dollars in investments and assets. Surprisingly, not all the millionaires participating in the survey felt that they were �wealthy�. Many indicated that it would take at least 5 million dollars in assets to make them feel like wealthy individuals.

 

This survey is conducted by Fidelity Investments, which is a leading financial services organization that provides services such as retirement planning and investment management.