Message Font: Serif | Sans-Serif
No. of Recommendations: 0
8.9 million folks is still well under 1%. The report is dated March, 2006. I am surprised the percent is so low. But the number is number of Households. I wonder how many households there are in the US?

If there are 300M people in the US and an average of 3 people per household (I have no idea of the actual number), that's 100M households. So 8.9M millionaire households is about 9%. If there are more than 3 people per household, it will be an even higher percentage.

The firm's survey found that the millionaire households had an average net worth, excluding principal residence, of nearly $2.2 million

With all the megabillionaires included, the average millionaire household probably doesn't have much over $1M in assets, excluding principal residence. Since the majority of these folks are married, that works out to less than $1M per adult on average in these millionaire households.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.