Millionaire club becoming less elite

1 08 2008

That’s right, there are more and more millionaires. This year 600,000 people joined the once exclusive club. And their average wealth also increased.

The only thing that makes poor me feel better is that $1 million today is not as much as it was in 1995: $1 million in 1995 would be worth $1.3 today. Poor me would be happy with that $.3 million difference!

For more stats about millionaires, along the lines that 1 of every 3 millionaires lives in the US, read the full article.



One response

1 08 2008
James Burns, Esq.

The club will be harder to get in as the new president takes office with aggressive agenda to close the gap on the middle class. The upper middle class will pay most of the taxes and with coporate dividend taxes going up almost 3 times where it is, you’ll see a less robust market for any returns. We are facing years of any real estate turn-around so I wonder how flush are the millionaires. We need to fight like badgers to save our middle class and opportunity to move upward…this was once the American Dream and it is wilting.

James Burns, Esq.

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