There are now more than 10 million millionaires in the U.S., an apparent record, according to a new study.
The Spectrem Market Insights 2015 report, which looks at the affluent market and the behavior of affluent investors in the U.S., found that the number of households with a net worth of $1 million or more grew by almost 500,000 households in 2014 to reach 10.1 million.
According to Spectrem, this indicates that there are more affluent Americans than there ever have been.
“Given the record level stock market in 2014, along with a full recovery of investment real estate, and investors’ perceptions of value of their own privately held business, it is not surprising that we see these record numbers,” he added.
The study also determined there were 29.5 million households with a net worth between $100,000 and $1 million in 2014.
The study found that millionaires with a net worth of between $1 million and $5 million increased by 400,000 to reach 8.79 million.
Those with a net worth of between $5 million and $25 million grew by 60,000 to reach 1.168 million. The number of investors with more than $25 million reached 142,000, up from 132,000.
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