What It Means to Be ‘Wealthy’ in America Today

A new report from UBS surveyed investors who on the surface all appear to be pretty well off. Of the survey’s 4,450 participants, half had $1 million or more in investable assets, and all had at least $250,000 in investments. Compared with the huge portion of the population that barely has any savings — about half of Americans don’t have an emergency fund that’d cover three months of expenses — it sure seems like the people in the survey are doing quite well financially. But do these people think they’re rich? For the most part, the answer is no.

That’s a UBS poll. If there was a poll of people who invested with Fidelity or Vanguard I bet the results would be different.