What Millionaires’ Financial Resolutions Mean for Your Money

Better Investing

What's Hot


The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

How a Mexican Tariff Will Boost the Cost of 6 Common PurchasesFamily

This Free Software Brings Old Laptops Back to LifeMore

How to Protect Yourself From the ‘Can You Hear Me?’ Phone ScamFamily

Report: Walmart to Begin Selling CarsCars

Where to Sell Your Stuff for Top DollarAround The House

Is Your TV Tracking You? Here’s How to Tell — and Prevent ItAround The House

11 Staging Tips to Help You Get Top Dollar When Selling Your HomeAround The House

21 Restaurants Offering Free Food Right NowSaving Money

20 Simple Hacks to Make Your Stuff Last LongerAround The House

4 Car Insurers That Might Raise Rates Even When the Accident Wasn’t Your FaultCars

How to Invest If Trump Kills the ‘Fiduciary Rule’Grow

12 Surprising Ways to Wreck Your Credit ScoreBorrow

9 Secret Ways to Use Toothpaste That Will Make You SmileAround The House

The 2 Types of Music That Most Improve Dog BehaviorFamily

These days, the top financial concern of millionaires is not so far removed from the worries of the rest of us. Find out more.

Millionaires’ financial resolutions are not unlike those of people of more modest means.

A recent survey by deVere Group found that saving more money for retirement is the most common New Year’s resolution among millionaires.

Nigel Green, founder and chief executive of deVere Group, notes:

“Whilst this poll highlights the 2016 resolutions of high-net-worth individuals, I believe there would be very similar results for a survey of middle-income earners.

This is because wealth enables people and their families to achieve the lifestyle they desire and, as such, there would be inevitable parallels across income brackets.”

The international financial advisory firm polled 655 of its clients who are between the ages of 25 and 70 and have investable assets of more than 1 million British pounds (which was equivalent to $1,474,600 U.S. dollars as of the end of 2015, according to the U.S. Federal Reserve System).

The survey respondents were from the United Kingdom, the United States and several other nations.

Their top three financial priorities for 2016 are:

  1. Save more for their retirement — 41 percent
  2. Review their investment portfolios more often — 27 percent
  3. Save more to leave to their beneficiaries — 23 percent

Nine percent cited a variety of different resolutions.

According to deVere Group, millionaires’ worries about their nest eggs grow against a backdrop of:

  • Large company pension deficits
  • Low interest rates
  • Changes to pension tax relief thresholds
  • Scrapping or reduction of some age-related benefits and public services
  • High medical and care costs
  • Longer life expectancy

Green explains that millionaires’ financial concerns have implications for people in lower income brackets:

“Even the richest people in society are now worried about not having accumulated enough money to last throughout their retirement.

If this section of society is concerned about such matters, it should be a red-flag to middle and lower income earners to ensure they are also saving enough and, crucially, as efficiently as possible, for their mature years.”

What’s your No. 1 financial resolution for 2016? Share your thoughts in our Forums. It’s a place where you can swap questions and answers on money-related matters, life hacks and ingenious ways to save.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: Three Simple Steps to Save 10 Percent or More On Every Online Purchase

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,809 more deals!