A million bucks isn’t what it used to be. Just ask American millionaires, a number of whom say they don’t even consider themselves wealthy. Northwestern Mutual's 2024 Planning and Progress Study, conducted by The Harris Poll, surveyed 4,588 U.S. adults and found that only 32% of Americans with more than $1 million in investable assets consider themselves "wealthy.” Additionally, it found that almost half of the high-net-worth individuals surveyed believed their financial plans needed improving. According to the study, 78% of millionaires considered themselves to be disciplined financial planners, compared to 45% of the general public, and 84% said they had long-term financial plans that accounted for economic fluctuations, versus just 54% of the general public. The survey also found that 69% of American millionaires work with a financial advisor — more than double the rate of the general public. There are some 5.5 million high-net-worth individuals holding over $1 million in liquid investable assets in the U.S., making up about 37% of the world's millionaires.
