Core Insights - The perception of wealth among millionaires has shifted, with only 36% of U.S. adults with at least $1 million in investable assets considering themselves "wealthy" [2] - Many millionaires express concerns about financial security, with nearly half indicating that their financial planning needs improvement [2][3] Group 1: Financial Concerns - Major concerns for millionaires include outliving their savings, retirement taxes, and long-term care needs [4] - Only 12% of millionaires prioritize leaving a legacy for their heirs, with just 53% planning to do so [3] Group 2: Financial Behavior - A significant 88% of millionaires understand their spending capabilities versus savings needs for the future [5] - About 77% know the amount required for a comfortable retirement, and 76% consider themselves disciplined financial planners [5] Group 3: Seeking Guidance - Approximately 74% of millionaires work with a financial advisor, which is more than double the 34% rate among the general population [6] - Among those receiving financial advice, 60% of millionaires trust their advisors more than any other source [6] Group 4: Advisor Impact - Millionaires who collaborate with financial advisors report greater confidence in their finances, health, and personal relationships [7]