Issue 30: 2015

2015 U.S. Trust Insights on Wealth and Worth® Survey

The Essentials for a Life Well-Lived

A recent U.S. Trust survey finds that significant wealth empowers, but does not define, life’s purpose.

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Erickson Stock

As is the case with words like “rewarding” or “happiness,” a life considered “well-lived” often means different things to different people. While some consider professional success most important, others assign greater value to family or charitable giving.

“A life well-lived shouldn’t be viewed through a rearview mirror with the final assessment of accomplishment or regret at the end of the journey. It can and should be carefully plotted and planned for,” says Keith Banks, president of U.S. Trust.

For high-net-worth individuals, the success of that plan is directly related to health, family and financial security — the three areas of greatest importance, according to the 2015 U.S. Trust Insights on Wealth and Worth® survey.

“The survey found that most wealthy people consider themselves prepared for ordinary healthcare expenses and the cost of long-term care,” says Chris Heilmann, chief fiduciary executive at U.S. Trust. “However, they are not prepared for the unexpected, including a health crisis of their own.”

The survey also breaks down marital and partnership roles and reveals how age and asset levels impact financial security. What follows are the essential insights from the research. You can explore all the findings at ustrust.com/survey.

Survey Methodology

The U.S. Trust Insights on Wealth and Worth® survey is one of the longest-running annual studies of the attitudes and preferences of U.S. high-net-worth individuals. The 2015 study was based on a nationwide survey of 640 high- and ultra-high-net-worth adults. Respondents were equally divided among those who have between $3 million and $5 million, $5 million and $10 million, and $10 million or more in investable assets (not including the value of primary residences). Although commissioned by U.S. Trust, it is not a survey of U.S. Trust clients.

IMPORTANT INFORMATION

The 2015 U.S. Trust Insights on Wealth and Worth® survey is based on a nationwide survey of 640 high-net-worth and ultra-high-net-worth adults with at least $3 million in investable assets, not including the value of their primary residence. Among respondents, 55 percent have between $3 million and $5 million in investable assets, 32 percent have between $5 million, and $10 million, and 13 percent have $10 million or more. The survey was conducted online by the independent research firm Phoenix Marketing International in January and February of 2015. Asset information was self-reported by the respondent. Verification for respondent qualification occurred at the panel company, using algorithms in place to ensure consistency of information provided, and was confirmed with questions from the survey itself. All data have been tested for statistical significance at the 95 percent confidence level.


Erickson Stock

As is the case with words like “rewarding” or “happiness,” a life considered “well-lived” often means different things to different people. While some consider professional success most important, others assign greater value to family or charitable giving.

“A life well-lived shouldn’t be viewed through a rearview mirror with the final assessment of accomplishment or regret at the end of the journey. It can and should be carefully plotted and planned for,” says Keith Banks, president of U.S. Trust.

For high-net-worth individuals, the success of that plan is directly related to health, family and financial security — the three areas of greatest importance, according to the 2015 U.S. Trust Insights on Wealth and Worth® survey.

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“The survey found that most wealthy people consider themselves prepared for ordinary healthcare expenses and the cost of long-term care,” says Chris Heilmann, chief fiduciary executive at U.S. Trust. “However, they are not prepared for the unexpected, including a health crisis of their own.”

The survey also breaks down marital and partnership roles and reveals how age and asset levels impact financial security. What follows are the essential insights from the research. You can explore all the findings at ustrust.com/survey.

Survey Methodology

The U.S. Trust Insights on Wealth and Worth® survey is one of the longest-running annual studies of the attitudes and preferences of U.S. high-net-worth individuals. The 2015 study was based on a nationwide survey of 640 high- and ultra-high-net-worth adults. Respondents were equally divided among those who have between $3 million and $5 million, $5 million and $10 million, and $10 million or more in investable assets (not including the value of primary residences). Although commissioned by U.S. Trust, it is not a survey of U.S. Trust clients.

IMPORTANT INFORMATION

The 2015 U.S. Trust Insights on Wealth and Worth® survey is based on a nationwide survey of 640 high-net-worth and ultra-high-net-worth adults with at least $3 million in investable assets, not including the value of their primary residence. Among respondents, 55 percent have between $3 million and $5 million in investable assets, 32 percent have between $5 million, and $10 million, and 13 percent have $10 million or more. The survey was conducted online by the independent research firm Phoenix Marketing International in January and February of 2015. Asset information was self-reported by the respondent. Verification for respondent qualification occurred at the panel company, using algorithms in place to ensure consistency of information provided, and was confirmed with questions from the survey itself. All data have been tested for statistical significance at the 95 percent confidence level.