… while others seem to just tread water?
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Interesting study reported in the NY Times
The rich really are getting richer … growing net worth faster than those on lower wealth rungs.
… and, there’s a logical reason why.
Archive for the ‘U.S. – Income & Wealth’ Category
How do the rich get richer ..
August 23, 2019So, how many “rich” folks are there?
August 22, 2019Yesterday we reported survey results from Schwab and the WSJ that pegged the threshold for being classified as “rich” or “wealthy” at about $2.5 million.
Just being a millionaire doesn’t make the cut any more.
Source: NY Times
OK, so how many households do make the cut?
How many millionaires & billionaires are there in the US ?
December 4, 2012
Based on a very rigorous analysis by Robert Wolff of NYU …
Scored in constant 1995 dollars – i.e. eliminating the effects of inflation …
- Roughly 6.5% of US households – about 7.5 million — have a net worth greater than $1 million.
- That’s up 5.25% since 2007 … an increase from 6.3% of households
- But, the number of households with net worth greater than $5 million declined by 27.5% from 2007
- And, the number of households with net worth greater than $10 million declined by 25% from 2007
Bottom line: More millionaires … but they have fewer millions.
Source: Wolff, NYU, Asset Price Meltdown and Wealth of the Middle Class
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