Thursday, March 23, 2017

More and More Millionaires

The number of millionaire households in America increased by 400,000 in 2016, reaching a new record of 10.8 million, according to a new study from the Spectrem Group. There are now 1.4 million households worth $5 million or more and 156,000 households worth $25 million or more.

Since the 2008 financial crisis, the number of millionaire households has grown every year, adding a total of 4 million millionaire household since then. The stats mean that more than one out of every 10 households in America is worth $1 million or more.

Mass affluent households, those with a net worth between $100,000 and $1 million not including their primary residence, grew to 28.97 million last year. That's an increase of 500,000 over 2012, and of 3.77 million over the post-recession low of 25.2 million.

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