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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.

In that group, per his table 8-8

Millionaires with net worth between 1 and 2.5 million live in 220,000 houses.

Millionaires with a net worth of 2.5 to 5 million live in 354,000 houses.

If you are at, or aiming for the above 5 million net worth, you can play in the arena of Bill GAtes, Warren Buffet, and that very very small percentage of people in the multi-multi-million dollar category.

I think you are using the stastics of the super millionaire to try and show the 1-5 million dollar net worth folks are living a high consumption life style...they aren't.

Per page 335, quote:

According to the IRS databse, which encompasses all milionaire households nationwide (ed: including Bill GAtes), and thus includes certain deodemographic cateories not surveyed in my study, such as farners and others, the average value of the American milionaire's home is estimated to be $277,640. "

WOuld you like to argue with that quote?



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