Affluent U.S. investors are bullish on America, at least when it comes to stocks.
A Legg Mason survey of 458 investors with investable assets of at least $200,000 found that 85 percent believe U.S. equities "offer the best opportunities over the next 12 months" among all global asset classes. That's up from 74 percent a year ago.
The top three issues that investors worry could “derail the progress” of their investments in 2015 are: global economic instability, economic instability in the U.S. and increasing market volatility. Only 11 percent are concerned about inflation, and just 5 percent are concerned about rising interest rates/yields.
Investors see China and Japan as the countries representing the best non-U.S. market investment opportunities during the next 12 months.
"Investors are looking for the U.S. equity market's strong run to continue," said Matthew Schiffman, head of marketing for Legg Mason. The S&P 500 has tripled since March 2009.
But all this enthusiasm may be a dangerous thing. It's "concerning," Schiffman noted.
"Overconfidence can lead to a degree of complacency that could prevent investors from paying close attention to their overall financial plan and how they have allocated their assets as their own needs change," he explained.
"Investors have not changed their asset allocation since we started measuring investor sentiment three years ago, which could be another sign of complacency creep."
So how do you become wealthy? Ronald Read, a Vermont gas station attendant and janitor, proved it doesn't take a huge salary. He recently died at the age of 92, with an $8 million fortune.
Read's investments included shares of AT&T, Bank of America, CVS, Deere, General Electric and General Motors. "He only invested in what he knew and what paid dividends. That was important to him," his lawyer, Laurie Rowell, told
CNBC.
Many investors can learn a thing or two from Read's approach, says financial adviser Chris Hogan of Ramsey Solutions. "It's a matter of living a certain way, keeping your lifestyle under control and being committed," he told CNBC.
Investors would have to save approximately $300 a month to attain the same $8 million fortune as Read in 65 years, assuming an annual return of 8 percent, Hogan said.
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