A recent survey conducted by Bank of America indicates that the majority of wealthy Americans are concerned about outliving their savings in retirement.
The BofA survey results reveal that 53 percent of respondents are concerned about making their savings last through retirement, and 59 percent cite healthcare costs as a major concern.
A surprising 67 percent of BofA survey respondents said that they did not work with a financial advisor for retirement planning.
The survey focuses on households with at least $250,000 in investable assets.
Bloomberg reports that a similar survey from the Spectrum Group shows that the number of high net worth households in the United States is decreasing, and that these households are becoming more "hands on" with their personal finances.
Source: Bloomberg
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