Wealthy Pre-Retirees Confident About Retirement

However, health issues are their greatest retirement fears.

Eighty-four percent of wealthy investors, those with $1 million in investable assets or more, say they are happy in retirement, according to a survey of 2,028 wealthy investors conducted by UBS Wealth Management Americas in June.

Eighty-nine percent of wealthy pre-retirees say they are confident they have saved enough for a comfortable retirement, and 74% believe they know how long their money will last. However, many worry about the emotional adjustment of retirement—specifically not having a set schedule (64%), missing colleagues (57%) and not having a sense of purpose (36%). Forty-five percent of wealthy pre-retirees have a savings goal of between $1 million and $3 million.

Seventy-three percent of wealthy retirees say that getting sick is their greatest retirement fear, and less than 50% feel secure about long-term care planning.

However, half of wealthy retirees said it took them no time at all to adjust to retired life. “Based on the experience of current retirees, wealthy pre-retirees can lay their fears to rest,” says Sameer Aurora, head of client insights at UBS. “Most investors are happier in retirement than they have ever been.”

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The survey also found that 84% of wealthy retirees plan on continuing to grow their assets, and 74% believe equities offer the best returns, regardless of age. Most have maintained or increased their equity exposure after retiring.

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