March 11, 2015 Fact of the Day: How many Millionaires are in the U.S.?
DID YOU KNOW THAT……almost 16 million households in the U.S. have a net worth exceeding $500,000 and that over 10.1 million have a net worth exceeding $1 million. About 1.3 million have more than $5 million and 142,000 households have more than $25 million.
Why is this important? This is the first time that the number of households with more than $500,000 has risen above the number in 2007. This year it is at 15.9 compared to 15.7 in 2007. The number of Millionaires in 2007 was 9.2 and this year it is at 10.1 million.
These increases are good news for the economy. Keep in mind, however, that much of this growth has been fueled by the increase in the stock market.
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