Number of US millionaires up 16 percent in 2009 by Magdalena Rosova

The number of millionaires in the United States rose 16 percent in 2009, although in 2008 the number slumped by 27 percent. On Tuesday Spectrem Group released a report which showed 7.8 million householders in US had a million dollars or even more in investable assets in 2009. The report did not count capital invested in householders' primary residence. According to the report the number of millionaires jumped by 1.1 million from the previous year. In 2007 the number hit record of 9.2 million but because of the crisis in 2008 it fell to its lowest point since 2003. The president of Spectrem Group George Walper says the growth in the millionaire population is positive s! ign that economy of the country is on its way to recovery. The number of ultra-millionaires with assets worth more than 5 million American dollars climbed last year to 980,000 and also population of householders with houses worth of 500,000 dollars or more grew by 12 percent to 12.7 million. Average age of US millionaires is 62 years and the ultra-millionaires were on average 67 years old. Most of the millionaires were aged 51 to 64, with an average age of 58. More than quarter of the ultra-millionaires stated that they work as a senior corporate executives. The most common occupation listed by the random millionaires was manager. The report of Spectre group was based on the poll of few thousands American millionaires. The poll run in 2009 included 1089 millionaire households and 523 households with a net worth of $US5 million to $US25 million.

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by Magdalena Rosova for SigEx Ventures (http://sigexventures.com)

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