> At the moment, something like 1 out of 25 households falls into the millionaire category, most of it self-made.
4% of households is off the mark. It's presently closer to 7%-10% depending on the source [1]. 8% of American adults (~19-20 million people) are millionaires [2]. It's not what it used to be, given the median sale price of a home is now around $350,000. Demographically the mean white household in the US is now approximately a millionaire household.
About 9-12 million households out of 128 million have a million dollars in net assets, including primary residence.
The number of millionaires in the US has soared in the past 4-5 years with the asset price boom in housing and the stock market. For example back in 2016 [3]:
> As of the end of 2016, there were a record 10.8 million millionaires nationwide, according to a new study from Spectrem Group’s Market Insights Report 2017. That’s more than ever before and marks a 400,000 person increase from the previous year. ... In 2016, there were 9.4 million individuals with net worth between $1 million and $5 million, 1.3 million individuals with net worth between $5 million and $25 million, and 156,000 households with more than $25 million in net worth, the report says.
The US has been adding a huge number of millionaires per year (temporary or not) as the asset bubbles have been making new highs by the year.
There’s two kinds of millionaires. The technically millionaires on paper, and those who have access to a million dollars without altering their lifestyle (or sacrificing their lifestyle, i.e. selling their house and moving somewhere cheaper). The latter is a more interesting statistic, in my opinion.
4% of households is off the mark. It's presently closer to 7%-10% depending on the source [1]. 8% of American adults (~19-20 million people) are millionaires [2]. It's not what it used to be, given the median sale price of a home is now around $350,000. Demographically the mean white household in the US is now approximately a millionaire household.
About 9-12 million households out of 128 million have a million dollars in net assets, including primary residence.
The number of millionaires in the US has soared in the past 4-5 years with the asset price boom in housing and the stock market. For example back in 2016 [3]:
> As of the end of 2016, there were a record 10.8 million millionaires nationwide, according to a new study from Spectrem Group’s Market Insights Report 2017. That’s more than ever before and marks a 400,000 person increase from the previous year. ... In 2016, there were 9.4 million individuals with net worth between $1 million and $5 million, 1.3 million individuals with net worth between $5 million and $25 million, and 156,000 households with more than $25 million in net worth, the report says.
The US has been adding a huge number of millionaires per year (temporary or not) as the asset bubbles have been making new highs by the year.
[1] https://www.kiplinger.com/slideshow/investing/t006-s001-mill...
[2] https://www.cnbc.com/2021/02/09/more-than-8-percent-of-ameri...
[3] https://www.cnbc.com/2017/03/24/a-record-number-of-americans...