Number of Millionaire Households Reaches All-Time High
More Americans are reaching significant benchmarks of wealth, according to Spectrem’s annual report on affluent investors.
Spectrem’s Market Insights 2016 reveals that for the seventh year in a row, dating back to the recession of 2008, the number of Millionaires in the United States has grown. After topping the 10 million mark in 2014, the number of Millionaire Americans reached 10.4 million in 2015.
Similar growth was recorded in other wealth segments, up to and including investors with a net worth over $25 million.
Market Insights 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 percentage of Millionaires also continues to climb. Among the more than 122 million households in America, 8.5 percent have a net worth of at least $1 million. That percentage was as low as 5.9 percent when the nation suffered its more recent recession in 2008.
The key numbers from the report include:
· There are almost 30 million (29.8 million) households with a net worth between $100,000 and $1 million, Not Including Primary Residence. That number indicated an increase of approximately 600,000 households.
· The number of households with between $1 million and $5 million in net worth climbed above the nine million mark to 9.1 million, an increase of approximately 300,000.
· There are 1,210,000 Ultra High Net Worth households with a net worth between $5 million and $25 million. That n umber grew by more than 40,000 households
· There are 3,000 more households with a net worth above $25 million, reaching 145,000 total.
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