The number of U.S. households with at least $1 million in investable assets grew by more than 1.3 million since 2006, before the financial crisis, to 6.8 million households by mid-2016, accounting for 5.5 percent of all U.S. households, Phoenix Marketing International reported in February.
The overall wealth market is growing, but the ratio of millionaires to total U.S. households has remained relatively flat since 2006, and wealth is more concentrated and shifting geographically, according to the annual Phoenix Wealth & Affluent Monitor.
|Households with at least $1 million hold $20 trillion
Phoenix research showed that households with at least $1 million in investable assets hold approximately $20 trillion in total liquid wealth in the U.S., or roughly 59 percent of the total.
Households with between $1 million and $10 million in investable assets experienced the biggest asset growth between 2015 and 2016, advancing by $809 billion to a total of $17.8 trillion.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.