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You also have to be careful not to confuse Stanley's study of the 733 millionaires with other survey's of other millionaires by other groups. Like the IRS study of ALL millionaires (not the 733) in Table 8.8. "

It only takes adding in 100 billionaires in the IRS statistics to make things go completely bananas.

One Bill Gates, or Warren Buffet, or Ted Turner, with an income of who knows how many billion, skews statistics so out of proportion that you have to be careful of using "all millionaires".

Which is why I prefer to use Stanley's figures, and also use them mainly for the groups under 5 million net worth.

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