From the July 2007 issue of Investment Advisor • Subscribe!

Moving On Up

A number of your clients were busy in 2006, swiftly climbing the ladder of success. According to a new report from Spectrem Group--"Affluent Market Insights 2007"--the number of U.S. households with a net worth of $5 million or more, not including a primary residence (NIPR), rose to a record 1.14 million in 2006, surpassing one million for the first time. This represents a 23% increase from the 930,000 Spectrem reported in 2005, and a quadrupling from 250,000 ultra high-net-worth households in 1996.


Although ultra HNW households saw the strongest growth of all affluent segments in 2006, the report found that millionaire households (those with a net worth of $1 million or more) grew to 9 million in 2006, an 8% increase from 8.3 million the year before. Furthermore, affluent households (net worth of $500,000 or more) reached 15.3 million last year--an increase of 9% from 14 million in 2005.

"The past few years have been nothing short of astounding for wealthy Americans," said Catherine McBreen, managing director of Spectrem Group, in a statement. "We now have more than 15 million affluent households in the United States."

Reprints Discuss this story
We welcome your thoughts. Please allow time for your contribution to be approved and posted. Thank you.

Most Recent Videos

Video Library ››