Millionaires in the U.S.

According to a study released by the Spectrem Group, there are now 7.5 million households in the U. S. with a net worth of at least $1,000,000, which is a 21% increase over 2003. I'm not too familiar with surveying techniques, but I don't understand how they can come up with that number by surveying 450 qualified respondents.

Here's some interesting facts regarding millionaires:

• Households worth $3 million or more earned 34% of their money from investment gains.
  
• The affluent held 9% of their assets in cash.
  
• 30% of the affluent make most of their financial decisions without the help of a professional.
  
• 10% let their advisors make all the decisions.
  
• The number of households with a net worth of at lest $5 million rose 38% last year to 740,000, up from 480,000 in 2001.
  
• Millionaire households controlled $11 trillion in assets in 2004, up 8% from 2003.
  

Interesting stuff. I can't wait to join the ranks. So far, we are about 20% of the way there.

Tags: Becoming a Millionaire, Millionaire Households in the U.S.