Gabe Rosen sends this link:
The number of millionaires in the US has reached a record 8.9m, rising for the third consecutive year despite faltering stock and bond markets.
[...]
Jeanette Luhr, the manager of the research study, said: “The growth we’ve seen this year is largely due to measured planning and active reinvestment…overall the asset allocation of these households has not changed significantly. When asked about their investment approach over the past year, 61 per cent of millionaires said that approach has changed very little, indicating they have a strategy and they are sticking to it.”
Full article at Yahoo News.
I'm the New York Times bestselling author of I Will Teach You To Be Rich. I co-founded PBwiki and graduated from Stanford.
5 comments
Leave a commentBy these numbers, almost 1 in every 30 Americans is a millionaire – and many of these folks have 2-3 more dependents who, in terms of day-to-day spending, enjoy the same lifestyle. What I’m interested in is the geographic distribution of these 8.9 million millionaires – I bet (and in some cases know) that you would see some extremely dense clustering, with huge blank spaces in between. I think part of what Ramit is doing with this website is to give people the tools to, hopefully, fill in some of those blanks someday – if not as millionaires, then as financially solvent and comfortable people.
re: Brett
Bog wtf. Don’t be a self-pitying loser. While I sympathize with you, be realistic. You’ve just identified your problem, now go out there and do something about it.
Give a man a fish and he’ll eat for a day; teach a man to fish and he’ll eat for a lifetime.
This is the idea behind Kiyosaki’s works, Rich Dad Poor Dad series… I suggest you read it.
STOP YOUR CRYING. YOUR DAD HAS WORKED 50 – 70 HOURS A WEEK SINCE YOU WERE CRAWLING. YOU`RE WORKING 35 HRS A WEEK – GET A PT JOB 4 HRS A DAY 20HRS A WEEK @ $10 AN HOUR AND YOUR LOAN PAYMENT IS PAID.
PS MAYBE IF YOU DIDN`T PISS AWAY YOUR EXTRA MONEY GOING TO CLUBS ALL THE TIME, MONEY WOULDN`T BE SO TIGHT
I hate it when people are like “Oh the stock market did horrible today!!!”. People who think that good days only happen when the market is up, do not understand the market. What that little article means to me is that those millionaires obviously know how to sell a stock! A faltering market is just as good as a soaring one. Just trade by the charts!
Question: Does the fact that the dollar trades more for every pound negate any notion that there are more millionaires in the US?
In Britain, a study was released that it would take 3 million sterling pounds to buy what 1 million pounds would have bought a few years back. So simply stating that there are more millionaires isn’t even half the story.
Its misunderstandings like this that politicians can use to garner support whilst in office.
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