If being a millionaire used to mean yacht parties and champagne toasts, someone forgot to tell today’s millionaires. Turns out, having seven figures in the bank doesn’t always come with a sense of financial comfort\u2014or even confidence.<\/p>\n
According to the 2025 Planning & Progress Study by Northwestern Mutual<\/a>, only 36% of U.S. adults with at least $1 million in investable assets actually consider themselves “wealthy.” That means 64%\u2014despite their millionaire status\u2014feel like they’re still chasing financial security. And nearly half say their financial planning still needs work.<\/p>\n Don’t Miss:<\/p>\n It’s not just about the dollars. Millionaires may have more money than most, but many still face doubts about retirement, rising costs, and the long shadow of potential healthcare bills. Only 12% listed leaving a legacy for their heirs as their top financial goal\u2014so forget the old assumption that rich parents are prepping golden inheritances. In fact, only 53% even plan to leave one.<\/p>\n Their top concerns? Outliving their savings, getting slammed by taxes in retirement, and handling long-term care needs. Meanwhile, the general public is still stuck wondering if Social Security will show up for them at all<\/a>.<\/p>\n Even with all the worry, millionaires still behave differently from the average person<\/a>. According to the study, a full 88% say they have a clear understanding of how much they can spend now versus what they need to save for the future. About 77% know how much money it will take to retire comfortably. And 76% describe themselves as disciplined financial planners.<\/p>\n Trending: Americans With a Financial Plan Can 4X Their Wealth \u2014 Get Your Personalized Plan from a CFP Pro<\/a><\/p>\n They also seek more guidance. About 74% of millionaires work with a financial advisor, which is more than double the 34% rate among the general population. Among those who receive financial advice, 60% of millionaires say they trust advisors more than any other source\u2014far more than spouses, online influencers, family members, or business media.<\/p>\n Millionaires who team up with advisors aren’t just better at retirement planning\u2014they also tend to feel stronger across the board. They’re more confident about their finances, their health, even their personal relationships.<\/p>\n Story Continues <\/p>\n The study found that 92% feel good about their finances with an adviser, compared with 86% of those without one. Strong mental health was reported by 90% of respondents working with an adviser, versus 82% among those without. Respondents with an adviser also expect to retire about two years earlier on average, with the typical retirement age falling from 65 to 63.<\/p>\n And perhaps most telling: 93% of millionaires have received professional financial advice, compared to just 78% of Americans overall. Among those who do seek advice, financial advisors remain the top trusted source\u2014beating out spouses, family, friends, and the internet combined.<\/p>\n See Also: Designed for investors with strong market convictions, REX Shares builds ETFs for income, leverage, and tactical positioning \u2014 explore the lineup.<\/a><\/p>\n The takeaway isn’t that millionaires are just like everyone else\u2014it’s that wealth alone doesn’t guarantee peace of mind. What makes the biggest difference is clarity, planning, and often, getting the right guidance.<\/p>\n This is where a financial advisor can play a crucial role. Whether you’ve got $1 million saved or are just trying to build toward that goal, working with a qualified fiduciary adviser can help map out a personalized plan\u2014covering retirement timelines, estate planning, tax strategies, and long-term care.<\/p>\n Domain Money offers a free matching tool<\/a> that connects individuals with vetted fiduciary financial advisors based on their goals and financial situation.<\/p>\n Because at the end of the day, feeling wealthy might be less about how much you have and more about how confident you are in what you’re doing with it.<\/p>\n Read Next: It\u2019s no wonder Jeff Bezos holds over $250 million in art \u2014 this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here\u2019s how everyday investors are getting started.<\/a><\/p>\n Image: Shutterstock<\/p>\n UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily<\/a>, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.<\/p>\n Get the latest stock analysis from Benzinga:<\/p>\n This article Are You Richer Than You Feel? Nearly 70% Of Millionaires Don’t Consider Themselves Wealthy<\/a> originally appeared on Benzinga.com<\/a><\/p>\n \u00a9 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.<\/p>\n","protected":false},"excerpt":{"rendered":"If being a millionaire used to mean yacht parties and champagne toasts, someone forgot to tell today’s millionaires.…\n","protected":false},"author":2,"featured_media":434906,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101,14580,2398,732,724],"class_list":{"0":"post-434905","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-financial-advisor","11":"tag-financial-planning","12":"tag-retirement-planning","13":"tag-warren-buffett"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/434905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=434905"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/434905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/434906"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=434905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=434905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=434905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}