In 2013, the number of households with $1MM or more in net worth were at the highest levels to date. There were over 9 million households with $1 million or more of net worth.
1.24 million investors had more than $5 million of net worth and 132,000 households
had over $25 million of net worth. All of these households recovered to prerecession
levels. Although households with $500,000 plus of net worth were not at their
highest point ever, they were close to recovering to pre-recession levels.
There are more wealthy Americans than ever before, and the number of Americans with at least $1 million has reached a significant total.
Spectrem’s annual Market Insights 2015 has been released, and it shows that there are more than 10 million Americans with a net worth of at least $1 million out of the total of 121 million households. The total is at 10.1 million, and the percentage of Millionaires among the population is 8.3 percent.
The percentage of Millionaires has finally climbed back to pre-recession levels. In the year 2007, the percentage of millionaire households was 8.2 percent before falling to 5.9 percent in 2008. There has been a steady climb of millionaire households since the recession before finally reaching pre-recession levels this year.
Market Insights 2015 also includes information on how the affluent investors invest their funds, how much risk they are willing to take, and their plans for passing on their wealth to the next generation.
The key numbers from the report include:
· There are 29 Million Mass Affluent households with a net worth between $100,000 and $1 million, an increase of more than 500,000 from the year before.
· The number of Millionaire households with a net worth between $1 million and $5 million is approaching nine million, sitting now at 8,790,000.
· There are 1,168,000 Ultra High Net Worth households with a net worth between $5 million and $25 million NIPR.
Sixty-one percent of the UHNW investors are retired, and another 14 percent are semi-retired, according to the report. Fifty-eight per cent of the Millionaires are retired, as are 41 percent of the Mass Affluent.
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