Here’s another clue; most millionaires are ordinary Americans; Americans who worked hard for their success. And guess what, the vast majority worked (very) long hours for their money.
Contrary to it being an outrage, a proliferation of millionaires is something to celebrate. It means the system works. It means unlimited opportunity still exists.
If you want to be an “ordinary” American, so be it and be happy. If you want to be something more, that too is available.
Ordinary keeps us going. Extraordinary keeps us moving forward.
Get the hell out there and proliferate.🤑
Climbing stock markets and rising real estate values helped create nearly 500,000 new millionaires in the U.S. in 2014, according to a new report.
The study, from market research and consulting firm Spectrem Group, found that there are now 10.1 million households in the U.S. with $1 million or more in investable assets, excluding the value of their primary residence.
That’s up from about 9.6 million in 2013, and tops the prerecession peak of 9.2 million in 2007. It’s the highest number since Spectrem began tracking the data in 1997.
The number of households worth $5 million or more also set a new record, jumping to 1.3 million from 1.24 million in 2013. And there are now 142,000 households worth $25 million or more, up from 132,000 in 2013.
While the rich are indeed getting richer, what’s most notable is that more people are becoming wealthy. Since the millionaire population plunged in 2008, the U.S. has gained or added back more than 3.5 million millionaires.
The result? There are now more than twice as many millionaire households than there were in 1996.