U.S. Millionaires' Ranks jumped 16 Percent in 2009, Study Says
"The millionaires’'club in the U.S. grew by 16 percent in 2009, following a 27 percent decline in 2008," according to a new Spectrem report. Affluent households -- those with net assets of $500,000 or more -- increased 12 percent to 12.7 million. At the same time, the number of households with a net worth of over $5 million rose 17 percent to 980,000. Finally, the magazine reports, "The average age of a so-called affluent investor is 58, compared with 62 for a millionaire and 67 for an investor with more than $5 million." Value of a household’s primary residence is not included in the calculation.
"The millionaires’'club in the U.S. grew by 16 percent in 2009, following a 27 percent decline in 2008," according to a new Spectrem report. Affluent households -- those with net assets of $500,000 or more -- increased 12 percent to 12.7 million. At the same time, the number of households with a net worth of over $5 million rose 17 percent to 980,000. Finally, the magazine reports, "The average age of a so-called affluent investor is 58, compared with 62 for a millionaire and 67 for an investor with more than $5 million." Value of a household’s primary residence is not included in the calculation.
