Millionaire Confidential: A Look at America's Millionaire Population
MILLIONAIRE, CONFIDENTIAL A look at America's MILLIONAIRE population MILLIONAIRE MEANS: An American with a net worth above: $1,000,00O Not including Primary Residence: PREVALENCE lumber millionaires in America: 2,886,200 Slightly more than the population of Utah Population 2,784,572 MILLIONAIRE OVERVIEW Average age: 56 *91% ducation level: College Graduate Advanced Degree 57% A 12% rimary Occupation: Sr. Corp. Exec. Business Owner S% Physician/Dentist 10% Other Professional FAVORITE LOCATIONS tates with the largest percentage of millionaire residents: Hawaii 6.41% Maryland 6,26% New Jersey 6.22% Connecticut 6,15% Virginia 5.51% PERSONAL OVERVIEW illionaire Americans possess some unique characteristics: Self Made 80% Ivy League 10% Divorced 10% Average US divorce rate 50% MILLIONAIRE SPENDING Surprisingly, millionaires possess relatively frugal spending habits: 25% 80% Own a second home Drive domestic cars 70% 40% Belong to country clubs Only make 2-year+ capital investments Most millionaires want to instill a strong work ethic in their children: 80% would charge their adult children to live at home. 47% don't tell their children the family is wealthy MPORTANT Ine lesser known MASS AFFLUENT population MASS AFFLUENT MEANS: Americans with a net worth between: $100,000 and $1,000,000 Not including Primary Residence: PREVALENCE pproximate number of mass affluent American households: 23,500,00O That's 20% of US households AFFLUENT OVERVIEW verage age: 87% ducation level: College Graduate 46% Advanced Degree Frimary Occupation: Sr. Corp. Exec. 6% Business Owner 3% Physician/Dentist Other Professional 16% AFFLUENT POPULATION |he mass affluent population in America is on the rise. Percentage of American households that are mass affluent by year: 25% | 20% 20.1% 19.1% 15% 15.5% 14.5% 10% 5% 1992 1997 2007 2012 est. AFFLUENT SPENDING vompar to the average American mass affluent Americans are TWICE as likely to: 2X 2X Travel internationally every three years Own a second home 2X 2X Own an espresso maker Eat brie cheese once a month Most mass affluent Americans spend less than: $10,000 on clothing per year 25% don't buy jewelry at all Sources: Get Rich, Stay Rich, Pass It On: The Wealth-Accumulation Secrets of America's Richest Families (McBreen, Catherine and Walper, George H.) http://www.tvshark.com/read/?art%3Darc996 http://www.nytimes.com/books/first/s/stanley-millionaire.html http://www.doubletongued.org/index.php/dictionary/lucky_sperm_club/ The Richest Man in Town: The Twelve Commandments of Wealth (Jones, Randall W.) Phoenix Marketing International Research, 2009
Millionaire Confidential: A Look at America's Millionaire Population
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