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In the minds of rich investors, $1 million is nothing to call home about.

According to a UBS survey released today, investors consider $5 million to be the brand-new benchmark for financial excellence. As soon as you are past $5 million, you have really reached monetary freedom and don’t need to bother with how or where you invest it, they reason.

It’s about having the ability to do what you wish to do when you want to do it,’ describes Emily Pachuta, Head of Investor Insights, UBS Wealth Management Americas.

Getting to that point is the difficult component. Investors who were not spooked by the economic downturn have likely began making up for lost ground, but there are some who’re so dubious of the marketplace’s ups and downs that they’ve actually increasingly turned to cold tough cash. Money holdings have actually increased about 3 % since 2010 to 23 % of portfolios.

More findings from the study:

Nearly 70 % of investors with more than $1 million in investable assets do not consider themselves wealthy.

They are most worried about saving for lasting healthcare, but providing for kids and grandchildren comes a close second.

Long-term care planning: only 33 % are extremely prepared and 36 % aren’t prepared.

4,500 investors were surveyed, each with a minimum of $1 million in properties or readily available to be invested.

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