D.B. ROOT ANNOUNCES
The FAMILY OFFICE
For The mMILLIONAIRESM
Making money shouldn't lead to more stress. We take the hassle out of managing your finances.
Are you an mMillionaireSM?
PITTSBURGH, PA - OCTOBER 8, 2007 - Wealth management firm D.B. Root & Company has coined a new term, mMillionaireSM*, short for “middle-class millionaire.” According to published reports, there are more than 9 million U.S. households with a net worth over $1 million excluding primary residence1. D.B. Root finds these newly minted mMillionaires often have investable assets between $2 million and $20 million. These people are typically in their 50's or 60's whose savings and investment income will not be able to sustain their lifestyle through expected lifetime.
As a result, most mMillionaires are waking up to the fact that even though they are high-net worth individuals, they will encounter financial difficulty when considering retirement. In order for their money to last their lifetime, they must scale back their lifestyle or delay retirement.
According to David B. Root, Jr., CEO and co-founder of D.B. Root & Co., “Imagine being 54-years old, selling a business for $4 million, wanting to retire, and finding out in order to retire, you must cut back. This is reality today. A decade ago, a couple million dollars would have been more than enough to sustain a lifestyle through the retirement years. But, unfortunately that's no longer the case. Longer life spans, rising health care costs, and uncertain markets are changing the calculus of retirement planning.”
In response to the needs of these new mMillionaires, D.B. Root & Co. has unveiled Family Office Services designed expressly for mMillionaires.
Added Carrie Coghill Kuntz, president and co-founder of D.B. Root, “Accumulating millions of dollars is only the first step. What people underestimate is that retirement can now be a 40-year experience and that conditions can change drastically. There's still a lot to do to make sure your financial house is in order.”
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D.B. Root & Company President Carrie Coghill Kuntz was named to the Top 100 List of U.S. female financial advisors. Ms. Coghill Kuntz is the only Pittsburgh-based advisor to earn this ranking.
D.B. Root was chosen as one of the region's best places to work for the third year in a row. Hundreds of companies, large and small, applied for the honor. What sets D.B. Root apart from other firms? "Our willingness to help one another to ensure the services we provide clients are the best they can be." 