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02-Sep-2019 08:03

According to Spectrem Group’s Market Insights Report 2017, in 2016, there were 9.4 million individuals with net worth between

According to Spectrem Group’s Market Insights Report 2017, in 2016, there were 9.4 million individuals with net worth between $1 million and $5 million, 1.3 million individuals with net worth between $5 million and $25 million, and 156,000 households (not individuals) with more than $25 million in net worth, the report says.

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According to Spectrem Group’s Market Insights Report 2017, in 2016, there were 9.4 million individuals with net worth between $1 million and $5 million, 1.3 million individuals with net worth between $5 million and $25 million, and 156,000 households (not individuals) with more than $25 million in net worth, the report says.

In other words, there are roughly 11 million millionaires in America.

If I were to guess the exact percentage of Financial Samurai readers who become millionaires in their lifetimes, I would say 65%.

It doesn’t sound like a huge amount until you read the data below.

million and million, 1.3 million individuals with net worth between million and million, and 156,000 households (not individuals) with more than million in net worth, the report says.

In other words, there are roughly 11 million millionaires in America.

If I were to guess the exact percentage of Financial Samurai readers who become millionaires in their lifetimes, I would say 65%.

It doesn’t sound like a huge amount until you read the data below.

The chart says that the more education you receive, the higher your chance of becoming a millionaire across all races.

Everybody’s chance to become a millionaire improves up until the age of 61.

But after 61, the chance for Hispanics and Blacks to become millionaires declines.

I suspect the actual number is higher due to stealth wealth and plenty of unreported or underreported assets.

But if you happen to be born into one of the millionaire families, then the chances are extremely high you will also become a millionaire thanks to an inheritance or a living trust.

It’s interesting to see the slopes for Asians and Whites are much steeper, which probably indicates there is a higher representation of Asians and Whites in higher paying industries.



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