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Millionaires' Economic Outlook Peaks, Highest Since 2006

Even though millionaires' near-term confidence in the economy remains low, their overall outlook hit a record high since the in-depth survey began tracking sentiments in 2006, according to the fourth Fidelity Millionaire Outlook survey. The positive outlook came as a surprise to the surveyors. "Millionaires' outlooks could be seen as a leading indicator of the direction of the economy, especially since the last time we conducted this survey in early 2009, when they forecast improvement in all aspects of the U.S. economy at the beginning of 2010," Fidelity President Michael R. Durbin said. Despite the positive outlooks, some concerns still remain; for example, 40 percent of the millionaires surveyed said their biggest concern is in securing the adequate amount of funds to support their lifestyle during retirement years, the article explained. Also noted was their plan to make better use of tax-free investments, according to 36 percent of the millionaire respondents.

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