Most millionaires don't consider themselves wealthy. So what does it really mean to be rich?

By most traditional measures, having a net worth of $1 million should put someone firmly in the “wealthy” category. Yet a growing number of millionaires don’t see it that way. Just one third (36%) of the nation’s wealthiest citizens — those with at least $1 million in investable assets — consider themselves wealthy, according to Northwestern Mutual’s 2025 Planning and Progress study. Further, nearly half (49%) of American millionaires say their financial planning needs improvement, citing the possibili ...