Becoming a millionaire may not be such a big deal after all.
Two-thirds of retirees with at least $1 million in assets say that crossing that threshold made them more confident about their financial situation, according to new data from Ameriprise Financial. But 40 percent of millionaire retirees said amassing a seven-figure net worth was "not that big a deal" — and only 6 percent cited it as their most important financial milestone.
The survey focused on 432 millionaire retirees, from a larger base of 1,305 adults queried for the Pay Yourself in Retirement report released earlier this year.
"The message is, the money itself isn't as important as what it helps them do," said Marcy Keckler, vice president of financial advice strategy for Ameriprise. "It's more important that it lets them retire, or pay off their mortgage."