Aspiring Millionaires In A Billionaire World

There’s something about the term ‘millionaire’ that still captivates people’s imagination. Even as Forbes released their annual list of the world’s ‘billionaires’ (spoiler alert: Jeff Bezos, $100B), people are still excited about accumulating 1/100th of that amount.

I’ve noticed that many of my top read articles over the last three all have ‘millionaire’ in the title. Maybe as the world’s richest move into billionaire territory, being a simple millionaire is the new level of approachable luxury?!

Here’s a couple of those articles:

Still, getting even to millionaire status is not easy. Only 1 in 10 households meet that mark (total net worth) in the United States today. Here’s a chart from DQYDJ that shows how much wealth you need to fall into certain percentiles (in 2016):

In response to the comments below, I am also adding this interesting chart on income mobility from The Brookings Institute:

Image Credit: Pixabay

7 thoughts on “Aspiring Millionaires In A Billionaire World

  1. These numbers are elusive, Chief. Though the “1%” are pilloried by the left, there is no expert agreement on who actually comprises the 1%. The encouraging data in the Pew Study you posted is 10% of Americans are millionaires! With our population exceeding 320 million, that means 32 million have achieved this significant financial milestone, an indicator of the powerful potential our economy holds for those who apply themselves.

    Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s