35% of millionaires say this about their retirement

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When millionaires share their opinions on money issues, maybe we’d love to hear. After all, these are the people who have a track record of building wealth.

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So it’s a little discouraging when more than a third — 35% — of those with at least $1 million in investable assets explicitly say it would be a “miracle” to retire safely.

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Those were the findings when investment management firm Natixis surveyed 1,617 individuals who have already accumulated $1 million or more in investable assets. Natixis notes that of the 35% of millionaires who believe it would be a miracle to retire, slightly less than the 40% of all investors who feel the same way.

Why do rich people feel so concerned about a secure retirement? Natixis notes that as ridiculous as it may sound, $1 million in funding isn’t exactly what it used to be. What’s more, the survey found that wealthy individuals fear that their money may run out even less in the coming years:

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“Almost seven in ten also see inflation as a threat. Having experienced the highest inflation in 40 years, investors are wise to recognize the impact that rising prices can have on their finances in retirement. Inevitably, when things cost more, their savings won’t go as far.”

Another factor in millionaires’ uneasiness about retirement may be the reality that well-heeled people are surprisingly unlikely to build a nest egg worthy of their net worth.

Millionaires in the survey accumulated an average retirement savings of $625,000. While that’s a lot of money, it’s just 2.5 times the $250,000 that, according to Natixis, those who aren’t millionaires have saved for retirement.

Natixis says the gap in millionaire retirement savings is particularly surprising because the high-net-worth individuals surveyed have accumulated more than four times the net worth without the $1 million in assets.

Do you hope to join the ranks of the 6.98 million people in North America who are millionaires? Start by reading “10 Guaranteed Ways to Retire Rich.”

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