Facebook Twitter LinkedIn
 
Register for our daily updates!


Featured Advisor



Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

Click to see the full profile


Share |

Rich in America Part 1: What Does It Mean to Be Wealthy?

What makes a person rich? The answer depends partly on whether you yourself are wealthy or not so wealthy. Learn more.

| BY Adriana Reyneri

What does it mean to be rich in America? Are the wealthy best defined by net worth, income or lifestyle? How do the lives of the rich differ from those of other Americans? Notions of wealth are shaped by age, income, occupation and other demographic characteristics, according to a January survey of 1,260 investors by Spectrem’s Millionaire Corner. Here’s what the survey revealed:

·         Age: The vast majority of investors (84 percent) associate wealth with greater security, but older investors are more likely to view security has a hallmark of being rich. (More than 87 percent of investors ages 61 and over associate wealth with security, compared to 72 percent of investors 40 and under.)Younger investors are more apt to associate “more happiness,” “more fun” and “less work” with being wealthy, while older investors are more likely to feel the wealthy have more responsibility and a more complicated life.

·         Income: Lower-income investors – those who earn less than $100,000 a year – are more likely to associate “more happiness” with the wealthy. Investors who have an annual income of $200,000 or more have a greater tendency to see the rich as having both greater security and responsibility. 

·         Net Worth: The high net worth – those with investable assets of $5 million up to $25 million – are the most likely to associate wealth with greater security (89 percent), compared to 82 percent for those with less than $100,000 to invest. The high net worth are also more apt to see the wealthy as having more responsibility, as well as more fun. Working with a financial advisor can help raise your chances of being among those with higher net worth and greater security. Millionaire Corner’s Best Financial Advisors search can help you find an advisor today. 


·         Retirement status: Working Americans are more likely to see the wealthy as having more stress and a more complicated life, while retirees associate being rich with greater security and more responsibility.

·         Occupation: Corporate executives are the most likely to perceive the wealthy as having more responsibility and stress.

Americans tend to define “rich” primarily by wealth level, as opposed to lifestyle or income, according to our research, though less affluent investors, those with less than $100,000 in investable assets, are more apt than higher net worth individuals to define the wealthy by income and lifestyle.

To assist the investor with financial decisions, Millionaire Corner offers the Best Financial Adivsors search service. See what the service can offer.