Wealthy Americans say they are wealthier than they were last year but are still unsure about how well they will fare in retirement.
Researchers at Phoenix Companies Inc., Hartford, say a recent survey they commissioned found that 81% of U.S. millionaires feel even better off now than they did in 2006, and more consider their long-term wealth “extremely secure.” Only 1% said they were significantly less wealthy than last year.
For the first time in 6 years, just as many respondents are seeking return on assets as are looking to preserve their wealth, Phoenix found.
About 60% of the wealthy survey participants said they may never fully retire, in part because of concerns about future health care or long term care expenses.
During the bull market of the 1990s, high-net-worth individuals wanted to retire early and completely, says Walter Zultowski, a senior vice president at Phoenix.