Is feeling "rich" a thing? Apparently so, and the feeling is getting elusive.&nbsp;

This may come as a surprise, but a recent study has found that 92 per cent of the millionaires actually consider themselves to be 'middle class'.&nbsp;

<h2>What it means to be wealthy</h2>

A recent survey of more than 3,500 wealthy Americans people found that only about eight per cent of people with wealth of $1 million or more said they consider themselves wealthy.&nbsp;

The survey by Ameriprise Financial found that 31 per cent of the millionaires say they are part of the middle class.&nbsp;

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A further six in ten or about 60 per cent of the millionaires conceded that they had wealth but limited the narrative to calling themselves part of the "upper middle class".&nbsp;

The survey which had a total of 3,518 participants also found that in comparison to the millionaires, two per cent of those with $25,000-$999,000 in assets 'felt' rich.

<h2>Feeling rich</h2>

As per Marcy Keckler, Senior Vice President of Financial Advice Strategy at Ameriprise, "There is no standard definition of what it means to be wealthy, but in general, investors associate it with having the means to live life on their terms."

People "feel squeezed," a private wealth adviser at Ameriprise told CNBC. Kim Maez, a certified financial planner, said that "Many people feel squeezed between higher prices and lower asset prices".

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With persistent inflation, high interest rates and geopolitical and economic turbulence adding to the uncertainty, fewer Americans, even millionaires, said they feel confident about their standing. This is according to the recent Global Wealth Report from the Credit Suisse Research Institute.

Furthermore, as per a Natixis Investment Managers data, a whopping 36 per cent of American millionaires said that they worry retirement may not even be an option.

35 per cent of millionaires in the US — which has the highest number of millionaires — were worried that their ability to be financially secure in retirement is "going to take a miracle".

(With inputs from agencies)

Is feeling "rich" a thing? Apparently so, and the feeling is getting elusive. This may come as a surprise, but a recent study has found that 92 per cent of the millionaires actually consider themselves to be 'middle class'.

Is feeling "rich" a thing? Apparently so, and the feeling is getting elusive. This may come as a surprise, but a recent study has found that 92 per cent of the millionaires actually consider themselves to be 'middle class'. What it means to be wealthy A recent survey of more than 3,500 wealthy Americans people found that only about eight per cent of people with wealth of $1 million or more said they consider themselves wealthy. The survey by Ameriprise Financial found that 31 per cent of the millionaires say they are part of the middle class. Also read | Elon Musk claims 'world record' for SpaceX delivering over 1,000 tonnes to orbit in 2023 A further six in ten or about 60 per cent of the millionaires conceded that they had wealth but limited the narrative to calling themselves part of the "upper middle class". The survey which had a total of 3,518 participants also found that in comparison to the millionaires, two per cent of those with $25,000-$999,000 in assets 'felt' rich. Feeling rich As per Marcy Keckler, Senior Vice President of Financial Advice Strategy at Ameriprise, "There is no standard definition of what it means to be wealthy, but in general, investors associate it with having the means to live life on their terms." People "feel squeezed," a private wealth adviser at Ameriprise told CNBC. Kim Maez, a certified financial planner, said that "Many people feel squeezed between higher prices and lower asset prices". Also read | Trouble in space: Soaring costs of NASA's Mars Sample Return Mission risk other significant projects With persistent inflation, high interest rates and geopolitical and economic turbulence adding to the uncertainty, fewer Americans, even millionaires, said they feel confident about their standing. This is according to the recent Global Wealth Report from the Credit Suisse Research Institute. Furthermore, as per a Natixis Investment Managers data, a whopping 36 per cent of American millionaires said that they worry retirement may not even be an option. 35 per cent of millionaires in the US — which has the highest number of millionaires — were worried that their ability to be financially secure in retirement is "going to take a miracle". (With inputs from agencies)

Feeling of 'rich' getting elusive, survey finds 92% millionaires consider themselves 'middle class'

A study has found that "insatiable wants" differs from person to person with "want" being a psychological construct.&nbsp;The study asked people how much money they would want to lead an "ideal life" that would also satisfy all their wants.

The research drew up an "absolutely ideal life" lottery measure with participants asked to imagine their "ideal life" and just how much money they would want in their life.

<a href="https://www.wionews.com/world/a-woman-in-california-finds-36000-stuffed-in-cushions-of-free-sofa-set-484553">Also Read:&nbsp;&nbsp;Woman finds 36k in couch she bought, returns the money</a>

In a startling discovery, the study found in 86 per cent of countries the majority of people thought they could achieve their absolutely "ideal lives" with $10 million or less with $1 million or less in some countries.

However, the research found 8 to 39 per cent of people across countries wanted as much money as they could get indicating "unlimited wants".

Watch:&nbsp;When life gives you lemons, you are officially rich!

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The study asked Americans how much amount was needed for an ideal lottery prize, 46 per cent of Americans said they were ok with $10 million or less.&nbsp;

In the UK, 26 per cent of people were satisfied with $1 million with most saying that $10 million or less would be alright while thirteen per cent said they would like $100 billion.

In India, Argentina and Russia, 50 per cent of people said they were fine with $1 million or less.&nbsp;

The research was conducted among 33 countries spanning six continents and 42 communities and was published in Nature Sustainability.

The research concluded that the assumption of "unlimited wants" was not universal and that it "actually applies only to a minority of people".

(With inputs from Agencies)

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A study has found that "insatiable wants" differs from person to person with "want" being a psychological construct. The study asked people how much money they would want to lead an "ideal life" that would also satisfy all their wants.

A study has found that "insatiable wants" differs from person to person with "want" being a psychological construct. The study asked people how much money they would want to lead an "ideal life" that would also satisfy all their wants. The research drew up an "absolutely ideal life" lottery measure with participants asked to imagine their "ideal life" and just how much money they would want in their life. Also Read: Woman finds 36k in couch she bought, returns the money In a startling discovery, the study found in 86 per cent of countries the majority of people thought they could achieve their absolutely "ideal lives" with $10 million or less with $1 million or less in some countries. However, the research found 8 to 39 per cent of people across countries wanted as much money as they could get indicating "unlimited wants". Watch: When life gives you lemons, you are officially rich! The study asked Americans how much amount was needed for an ideal lottery prize, 46 per cent of Americans said they were ok with $10 million or less. In the UK, 26 per cent of people were satisfied with $1 million with most saying that $10 million or less would be alright while thirteen per cent said they would like $100 billion. In India, Argentina and Russia, 50 per cent of people said they were fine with $1 million or less. The research was conducted among 33 countries spanning six continents and 42 communities and was published in Nature Sustainability. The research concluded that the assumption of "unlimited wants" was not universal and that it "actually applies only to a minority of people". (With inputs from Agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Want to lead an 'ideal life'? Study finds you don't need to be a billionaire

According to new statistics from the Federal Reserve of the United States, the wealth gap in America has expanded and economic inequality has worsened in 2021, despite a coronavirus outbreak that has disproportionately harmed low-wage service workers.

After years of decline, America's middle class now owns a lower percentage of the country's wealth than the top 1%.

In June, the total assets of the middle 60% of US families by income – metric economists frequently use to describe the middle class – fell to 26.6 per cent of national wealth, the lowest level in Federal Reserve records dating back three decades.

The superrich held a larger percentage for the first time, accounting for 27 per cent of the total.

The richest 1% represents around 1.3 million families earning more than $500,000 per year, out of a total population of almost 130 million.

The accumulation of wealth in the hands of a small percentage of the people is at the heart of several significant political disputes in the country.

President Joe Biden is attempting to help to work- and middle-class families with a $3.5 trillion plan before Congress that includes child care, education, and health-care assistance paid for by tax hikes on the wealthy.&nbsp;

The figures provide a glimpse into the slow-motion deterioration in the financial stability of middle-class workers, which has stoked voter dissatisfaction in recent years.

Despite trillions of dollars in government aid, this persisted throughout the COVID-19 epidemic.&nbsp;

(With inputs from agencies)

According to new statistics from the Federal Reserve of the United States, the wealth gap in America has expanded and economic inequality has worsened in 2021, despite a coronavirus outbreak that has disproportionately harmed low-wage service workers.

According to new statistics from the Federal Reserve of the United States, the wealth gap in America has expanded and economic inequality has worsened in 2021, despite a coronavirus outbreak that has disproportionately harmed low-wage service workers. After years of decline, America's middle class now owns a lower percentage of the country's wealth than the top 1%. In June, the total assets of the middle 60% of US families by income – metric economists frequently use to describe the middle class – fell to 26.6 per cent of national wealth, the lowest level in Federal Reserve records dating back three decades. The superrich held a larger percentage for the first time, accounting for 27 per cent of the total. The richest 1% represents around 1.3 million families earning more than $500,000 per year, out of a total population of almost 130 million. The accumulation of wealth in the hands of a small percentage of the people is at the heart of several significant political disputes in the country. President Joe Biden is attempting to help to work- and middle-class families with a $3.5 trillion plan before Congress that includes child care, education, and health-care assistance paid for by tax hikes on the wealthy. The figures provide a glimpse into the slow-motion deterioration in the financial stability of middle-class workers, which has stoked voter dissatisfaction in recent years. Despite trillions of dollars in government aid, this persisted throughout the COVID-19 epidemic. (With inputs from agencies)

Richest 1 per cent of Americans now own more wealth than the entire middle class

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Feeling of 'rich' getting elusive, survey finds 92% millionaires consider themselves 'middle class'

Want to lead an 'ideal life'? Study finds you don't need to be a billionaire

Richest 1 per cent of Americans now own more wealth than the entire middle class