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Wanna be a millionaire? Curious who's already made it?
Posted 18th June 2014 at 06:28 AM by David Beroff
A friend of mine sent me this graphic. I got curious and decided to do some fact-checking.
Source: Millionaires by Chris Piascik
It turns out that the first part is true. Of the 534 members of Congress, at least 268 (50.2%) had an average net worth of $1 million or more in 2012, and they collectively had a median net worth of $1,008,767, according to disclosures filed by all members of Congress and candidates.
Source: Millionaires’ Club by the Center for Responsive Politics
Source: Wealth Trends of Congress by the Center for Responsive Politics
As for America as a whole? The picture gets more interesting than the knee-jerk sound-bite of "the one percent". The number of American households with a net worth of $1 million or more, (excluding their homes), hit a record 9.63 million in 2013.
Source: Millionaire Households by the Spectrem Group
Source: Millionaire Households by the Spectrem Group
Admittedly I should've gotten fancier, but using simple linear interpolation, I took the Census' 2000 and 2010 values (of 105.5M and 116.7M, respectively) and extrapolated a figure of 120.1 million American households in 2013. So that means that 8% of Americans are now millionaires.
Source: Census of Population and Housing by the US Census Bureau
It seems much more achievable when it's put that way, doesn't it?
So how are you going to become a millionaire? Maybe you'll consider joining an investment club to supplement your Internet marketing efforts.
If you have any questions, please message me, or simply email me: David (at) Beroff (dot) com.
_____
Full disclosure: Yes, of course I earn referral income when you join.
And you'll be able to do so, as well. :-) Past performance is never a
guarantee of future returns. Only invest what you can afford to lose.
Source: Millionaires by Chris Piascik
It turns out that the first part is true. Of the 534 members of Congress, at least 268 (50.2%) had an average net worth of $1 million or more in 2012, and they collectively had a median net worth of $1,008,767, according to disclosures filed by all members of Congress and candidates.
Source: Millionaires’ Club by the Center for Responsive Politics
Source: Wealth Trends of Congress by the Center for Responsive Politics
As for America as a whole? The picture gets more interesting than the knee-jerk sound-bite of "the one percent". The number of American households with a net worth of $1 million or more, (excluding their homes), hit a record 9.63 million in 2013.
Source: Millionaire Households by the Spectrem Group
Admittedly I should've gotten fancier, but using simple linear interpolation, I took the Census' 2000 and 2010 values (of 105.5M and 116.7M, respectively) and extrapolated a figure of 120.1 million American households in 2013. So that means that 8% of Americans are now millionaires.
Source: Census of Population and Housing by the US Census Bureau
It seems much more achievable when it's put that way, doesn't it?
So how are you going to become a millionaire? Maybe you'll consider joining an investment club to supplement your Internet marketing efforts.If you have any questions, please message me, or simply email me: David (at) Beroff (dot) com.
_____
Full disclosure: Yes, of course I earn referral income when you join.
And you'll be able to do so, as well. :-) Past performance is never a
guarantee of future returns. Only invest what you can afford to lose.
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