Millionaires Think They'll Live to 100, Invest in Health Stocks
(Bloomberg) -- The results are in: most millionaires in a recent UBS Group AG survey think they’ll live to 100 -- which may be why they’re picking health-care stocks as their favored investment.
UBS sought the views of more than 5,000 people across 10 markets, each with at least $1 million in assets that can be freely invested, the brokerage said in a report published Thursday. Some 53 percent of them globally expect to be still alive at 100, while almost two-thirds consider equities to have the strongest investment opportunities for horizons of more than 30 years.
While they’re confident about their longevity, more than 70% of millionaires are worried that their health will deteriorate over the next 10 years. And that perhaps informs their preferred stocks to buy. Health-care shares are their most popular choice, with more than a third of those surveyed picking them as a sector with strong potential over the same period.
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