Here’s why Americans with $1 million don’t think they’re wealthy

Everybody sees millionaires as wealthy, except for millionaires themselves, a new study suggests.

Only 8% of investors with $1 million consider themselves wealthy, a recent report from Ameriprise Financial found. Instead, 60% categorized themselves as upper middle class, and a notable 31% considered themselves middle class. The study revealed wealth is more than just hitting a specific dollar number or lifestyle. Rather, it’s a mindset and a feeling of security.

“I think that people of wealth…

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