You may think I'm rich... but

Think the wealthy are all smart, friendly, spendthrift, spoiled and privileged? You might be surprised by the real forces behind their success.

Here's secret #1:

"You may think I'm rich, but I don't."


A million dollars may sound like a fortune to most people, and folks with that much cash can't complain. They're richer than 90% of U.S. households and earn $366,000 a year, on average, putting them in the top 1% of taxpayers.

But the club isn't so exclusive anymore. Now 10 million households have a net worth above $1 million, excluding home equity, almost double the number in 2002. Moreover, a recent survey by Fidelity found just 8% of millionaires think they're "very" or "extremely" wealthy, while 19% don't feel rich at all.

"They're worried about health care, retirement and how they'll sustain their lifestyle," says Gail Graham, a wealth-management executive at Fidelity.

Indeed, many millionaires still don't have enough for exclusive luxuries like membership at an elite golf club, which can top $300,000 a year.

While $1 million was a tidy sum three decades ago, you'd need $3.6 million for the same purchasing power today. And half of all millionaires have a net worth of $2.5 million or less, according to research firm TNS. So what does it take to feel truly rich? The magic number is $23 million, according to Fidelity.

Source: Smart Money