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>In the United States, it’s one out of every 50. This is blatantly false.
by MiddleEndian 12y ago
>In the United States, it’s one out of every 50.
This is blatantly false.
- walterbell 12y agoBCG [1] claims the 2013 proportion of millionaire "households" in the US is 5.9%, which would be 1 in 20 (!). This seems really high. [1] https://www.bcgperspectives.com/content/articles/financial_institutions_business_unit_strategy_global_wealth_2014_riding_wave_growth/?chapter=2#chapter2_section3 https://www.bcgperspectives.com/content/articles/financial_i...
- MiddleEndian 12y agoA millionaire household means that they either have a million dollars in cash or in assets (not sure of the methodology used here) across a household (which can be more than one person). Making a million dollars per year as an individual is another level entirely.
- kjs3 12y agoConsidering the median cost of a house in, say, Reston VA is almost $450k, you can see how someone there would have a million in household assets without any other trappings of wealth.