[quote=flyer]The report I read in the WSJ actually put the number at 5.5M with investable assets of $1M+ out of around 114M households in the US, but 5.6M is even better.
Instead of saying this number “amazes” me, I should have said it alarms me, as it reveals how millions of people are still financially unprepared–for the many reasons other posters mentioned, along with many more we haven’t even touched upon. Just speaking for myself and my family, I know I’d be very concerned if we were below that seven-figure mark.[/quote]
The numbers I picked up were from the Census (2006-2009) and a UBS presentation. Probably older data. I would believe that both the number of households with more than $1M has gone down and that the number of households has gone up.
You wouldn’t believe how many people have essentially $zero midway through their careers. I wasn’t even particularly fortunate, just frugal and halfway wise about my investing.
