How Much Is Rich?
Posted on November 5, 2007 in the Investing, Money category
.So how much money do you need to have in order to be read these days? Well it used to be that having a million dollars put you in a pretty exclusive class. But a rising stock market and Internet IPO’s have delvalued the exclusivity of that. According to Financial Planning Magazine there are now 9.3 million households in the United States with a net worth of at least $1 million. That is about 1 in 12 households. How common is that!!
“Of the 114 million houses in the U.S., roughly 109 million, or 95 percent, have less than $1 million in investable assets,” writes Elizabeth O’Brien. But there are about five million households “with $1 million to $10 million to invest; 200,000 households with $10 million to $25 million to invest” and another 40,000 designated “ultra-high net worth,” who have more than $25 million in investable assets.
So the old $1 million is now $10 million and if you really want to stand out from the crowd you need to be worth at least $25 million.
.
Comments
Leave a Comment