Who Wants to Be a Millionaire?

September 2000
Journal of Financial Planning;Sep2000, Vol. 13 Issue 9, p25
Academic Journal
This article highlights the results of the "Money and the American Family" survey on the attitudes of individuals toward wealth. In the survey published in the July/August 2000 issue, the magazine found a third of the respondents said they would not want to become wealthy. 94 percent said strong family relationships were the most important treasure of a successful life. 80 percent expressed fear that wealth would turn them into greedy, arrogant people. 54 percent thought that a family of four needed an annual income of $100,000 to be considered wealthy. Not that most could not use more money. They complained of lack of adequate health care and the financial need to work instead of staying home to raise kids. Half of the 75 percent who said they are saving for retirement did not think they are saving enough, and 15 percent said they had to retire later than desired because of financial needs. 18 percent stayed in marriages because of lack of money to divorce.


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