What is the demographic breakdown of millionaire households in the United States?
-Virtually all are, on average, college educated
-A majority of those who are college educated did not attend an Ivy League school, though those institutions are disproportionately represented among these households
-Most are headed by men
-Most fortunes were made outside of finance, music, or movies. The idea that you have to be a singer, actor, or work on Wall Street to make it big is a lie. It seems that way because these are the people you see most often in the news.
-Asians are vastly over represented among the samples as a result of immigrant work ethic and a culture geared toward saving
-A vast majority are first generation wealth, even among the members of the billionaire club
-Almost all are married, a vast majority of whom are married to their first spouse
-Most are in their 50’s or older
