Millionaire Population Grows by 200,000 wrote:America’s millionaire population is still growing – though not by much.
The number of millionaires in America grew by 200,000 in 2011, according to a new report from Chicago-based Spectrem Group.
That sounds like a lot — especially with so many Americans still losing jobs and homes. But it represents a growth rate of only 2% – much slower than the growth in 2009 and 2010.
According to Spectrem, there are now 8.6 million households in the U.S. with a total net worth (minus principal residence) of $1 million or more. The number of households worth $5 million or more and $25 million or more also remained fairly flat, with growth of less than 2%. There are now 1,078,000 households worth $5 million or more and about 107,000 people worth $25 million or more.
The report also broke down today’s millionaires by occupation and former occupation if retired. Managers make up the largest group, with 17%, followed by educators (12%), corporate executives (7%), entrepreneur/business owners (6%) and attorneys and accounts.
The $5 million-plus crowd, is dominated by senior corporate executives (17%) and entrepreneurs/owners (12%).
But... but... education in the US sucks because educators don't make enough... despite there being more millionaire educators than lawyers or doctors.