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Wealthiest Americans Have Worries, Too
Wealth doesn't alleviate the financial concerns that Americans suffer -- it simply redirects the worries.

At least, that's the conclusion of two surveys released recently by the Fireman's Fund Insurance Co.

The Opinion Research Corp., which conducted one of the surveys, found that 42% of those polled were concerned about the safety of their financial assets, including, stocks, bonds, and real estate other than their primary home.

The poll, which surveyed 501 men and women with investible assets of greater than $1 million, also found that the majority of respondents have cyber-concerns. More than half -- 53% -- say they are concerned about identity theft, while about 15% are worried that their reputation or that of a family member will be damaged on online message boards, chat rooms or social networking sites.

The 2007 Annual Survey of Affluence and Wealth in America, conducted by American Express Publishing and Harrison Group, surfaced similar sentiments. The Internet poll, which surveyed 1,300 individuals with an annual average household discretionary income above $375,000, also found that the wealthiest Americans still have everyday worries.

Americans with over $125,000 in discretionary income reveal that they believe money has brought them considerable security and peace of mind, but expressed that they don't "really feel like they have a lot of money," and agree that having been "burned in business experiences has made me much more cautious."

Like those with over $1 million in assets, some in this group had concerns that their financial security could vanish. Around half of all people who took part in the 2007 Annual Survey of Affluence and wealth in America indicated concerns about someday running out of money and their financial security.

Jim Taylor, vice chairman of the Harrison Group, said that affluent Americans who were "once at the mercy of those who provided information" have gained the ability to study categories that they are interested in. These categories often include areas in which they may be insecure about their financial holdings. This has inspired people to a lifelong quest to become better and better and more knowledgeable.

"Wealth and affluence is a journey from financial insecurity to a deep understanding of the transforming power of wealth. It takes a while, but people learn to turn their insecurities into lifelong learning," said the principal investigator of the research program.

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