How Many US Households Have Over $1 Million in Assets?

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Only one in every 400 U.S. households earns over $1 million annually, while one in every 15 households has at least $1 million in assets, excluding home equity. The discussion questions the accuracy of these figures, with some participants expressing skepticism about the low income threshold. Many millionaires are nearing retirement, having accumulated wealth over their working years. A $1 million asset base typically supports a retirement income of about $35,000 to $40,000 per year. These statistics highlight the disparity between income and asset accumulation in the U.S.
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http://www.npr.org/blogs/money/2011/05/23/136461536/whats-a-millionaire?sc=fb&cc=fp

Only one in every 400 U.S. households makes more than $1 million a year. But one out of every 15 U.S. households has at least $1 million in assets. (This measure includes things like stocks, bonds and investment properties, but it doesn't count equity in the home you live in.)

Are these numbers correct? One in every 400 US households make more than $1 million a year? One out of every 15 U.S. households has at least $1 million in assets?
 
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Greg Bernhardt said:
Seems a bit low! I bet that is before tax too!

Are you saying there are more than 1 household out of 400 that make more than 1 million a year?
 


jobyts said:
Are you saying there are more than 1 household out of 400 that make more than 1 million a year?

my bad, I was referring to the 400 number :D
 
The 1 in 15 number sounds reasonable. The vast majority of millionaires in the US are within a few years of retirement - at the end of building up their wealth and at the beginning of drawing it down. Assets of $1M will allow you to retire spending around $35-40K per year.
 
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