Good News!!!! More millionaires in the U.S. despite tough times

[Better Believe It]

More millionaires despite tough times
About 4.5% of American households have $1 million or more in 'investable assets.'
by Lynn Mucken
June 1, 2011

While many Americans are struggling to handle the mortgage, the $100 grocery basket and the $75 fill-up, these rocky times have been good for a lot of people.

According to the Boston Consulting Group, the number of millionaire households in the United States grew to 5.2 million in 2010, about 4.5% of the nation's 115 million households.

Oh, one other little figure: Those are cash millionaires. The BCG figures don't include homes, luxury goods and ownership in one's own company, but "investable assets" only.

Of course, mere millionaires are paupers compared with what BCG defined as "ultra high net worth" households, including the 2,692 in the U.S. worth more than $100 million. That's a lot of loose cash, and only about 1 in every 5.6 million households have it.

Read the full article at:

http://money.msn.com/saving-money/article.aspx?post=3204cf7f-38ee-453f-b8ba-e6ea567553c6>1=33029

[Starry Messenger]

1. Well, somebody has to be getting the money.

Us little people certainly aren't. There's a story about once a month in local papers about the # of sales of $1-2 million dollar homes going up more than normally.

[ixion]

2. 'They Live'

:scared:

[justabob]

3. well, bully for them!

:eyes: I hope there are *normal* people out there doing better than they were, but it is real hard for me to dredge up any enthusiasm at all for people in this wealth range.

on edit.... added normal

[slackmaster]

4. A million dollars isn't worth a million dollars any more

With inflation, over time it's inevitable that everyone will be a "millionaire" some day.

[MyshkinCommaPrince]

5. Yay!

Bring on the feudalism! Then, the big die-off! I can hardly wait! It'll be like the end of Atlas Shrugged.

Really hoping I don't need a 'sarcasm' smiley here.

[FiveGoodMen]

6. More millionaires in US are what CREATE the tough times for the rest of us.

[mmonk]

7. That's assets. Their income could be plummeting like a rock.

And those "investible" assets could be getting eaten alive. That is what has been happening to me. I can't reverse it. I may go back to school and study something in medicine like X Ray technology just to have income to add.

[eppur_se_muova]

8. Ford's in his flivver and all's right with the world. nt