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

[jobyts]

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?

 

[Greg Bernhardt]

http://www.npr.org/blogs/money/2011/05/23/136461536/whats-a-millionaire?sc=fb&cc=fp
One in every 400 US households make more than $1 million a year?

Seems a bit low! I bet that is before tax too!

 

[jobyts]

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?

 

[Greg Bernhardt]

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

 

[Vanadium 50]

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.