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Wealthy Pre-Retirees Confident About Retirement
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.”
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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