Data and Research

Wealthy Pre-Retirees Confident About Retirement

However, health issues are their greatest retirement fears.

By Lee Barney editors@strategic-i.com | July 20, 2017

Eighty-four percent of wealthy investors, those with $1 million in investable assets or more, say they are happy in retirement, according to a survey of 2,028 wealthy investors conducted by UBS Wealth Management Americas in June.

Eighty-nine percent of wealthy pre-retirees say they are confident they have saved enough for a comfortable retirement, and 74% believe they know how long their money will last. However, many worry about the emotional adjustment of retirement—specifically not having a set schedule (64%), missing colleagues (57%) and not having a sense of purpose (36%). Forty-five percent of wealthy pre-retirees have a savings goal of between $1 million and $3 million.

Seventy-three percent of wealthy retirees say that getting sick is their greatest retirement fear, and less than 50% feel secure about long-term care planning.

However, half of wealthy retirees said it took them no time at all to adjust to retired life. “Based on the experience of current retirees, wealthy pre-retirees can lay their fears to rest,” says Sameer Aurora, head of client insights at UBS. “Most investors are happier in retirement than they have ever been.”

The survey also found that 84% of wealthy retirees plan on continuing to grow their assets, and 74% believe equities offer the best returns, regardless of age. Most have maintained or increased their equity exposure after retiring.