Number of Millionaires in the United States Is Up

Millioniare_Photo_(copyright_Microsoft)The number of millionaires in the United States is up.  According to Spectrum Group a consulting and research firm, U.S. households with a net worth of $1 million or more rose to 9.63 million in 2013 (excluding primary residence).

That number is up considerably from the 2012 numbers by about 600,000.  This is the first year the numbers surpassed the pre-recession number of millionaires.  In 2007 there were 9.2 million Americans that fell into the millionaire category.  The number of millionaires has been increasing over the last several years.

The cause of the increase is a result of the market hitting an all-time high and improvement in real estate according to George Walper, Jr. who is the President of Spectrem Group.  This drove the rich to get richer!

The super wealthy also got wealthier.  The number of households with a net worth of $5 million or more was up last year by 840,000 from 2008 numbers.  This means there were there were 1.24 million households with a net worth of $5 million or more last year.

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