Only 22% grew up in high-income families. Started Poor: Research conducted by Thomas Corley of Rich Habits showed that 78% of millionaires started as middle- or low-income.
The rub is whether to include equity in a home in tabulating millionairedom.
Calculation: There is often debate on how to calculate how many millionaires there.Geographic: The nine cities with the most millionaires , in decreasing order, are Tokyo, New York City, London, Paris, Frankfurt, Beijing, Osaka, Hong Kong and Shanghai.
Percentage of World: If you’re a millionaire, you’re in the top 0.6% of wealth for the world’s population.Cities: After the US at 40%, the following highest five countries for millionaires are China at 10%, Japan at 6%, the United Kingdom at 5%, Germany at 5%, and France at 4%.Median Wealth: With a median wealth of $65,904 for an adult in the US, $1 million represents 1517% of the median.Percentage of American Household: The data indicate that approximately 14% of US households are in the millionaire club.Percentage of US: About 7.6% of the US adult population are millionaires.Most are in the US: Of those, 40% or 18.6 million individuals are in America.Credit Suisse’s latest global wealth report : There are 46.8 million millionaires worldwide (measured in USD).The following data comes from and help understand just how many millionaires there are across the globe and here stateside. Today we’re going into the nuts and bolts of becoming a millionaire. Now let’s talk stats on “real” millionaires. And, the third is to have a minimum of $500,000 in liquid assets. The second is to have at least three income streams (Social Security benefits, pensions, real estate income, retirement income, etc.). The first is to have your mortgage paid off before retirement. And, that’s because it very much is.īefore we dive into millionairedom, remember three financial indicators for retiring sooner and happier, based upon research from my book. The Millionaire Next Door did something even more powerful – it made the concept of becoming a millionaire feel like an ascertainable goal for everyday Americans. Stanley’s book talked about regular people who were millionaires but doing ordinary things with their money. It stripped away the idea that millionaires are only actors, sports stars, business luminaries and start-up gurus living in hedonistic excess. It was a game-changer for many of its readers and me. When I was an intern at my first investment job, back in 1997, I read The Millionaire Next Door. Walmart driving a regular car seems so unnatural. But it’s interesting how the concept of Mr. It doesn’t fit right with our conceptions, right? I mean, the Walton family could buy every US truck dealership over a weekend with a rounding error in their checkbooks. Try this: Imagine Sam Walton, the founder of Walmart, driving around his hometown in a modest pickup truck.