SOURCE: Spectrem Group

Spectrem Group

March 03, 2016 08:00 ET

New Spectrem Market Insights Report Shows Number of Millionaire Households in the U.S. Reached an All-Time High in 2015

CHICAGO, IL--(Marketwired - March 03, 2016) -  The number of U.S. households with a net worth of $1 million or more, not including primary residence (NIPR), reached a record 10.4 million in 2015, according to Spectrem Group's Market Insights Report 2016. The total is an increase of approximately 300,000 households, up from 10.1 million in 2014.

Spectrem Group's annual report analyzes the number of households in America based on net worth, from the Mass Affluent to the $25 million-plus segment. The report also includes information on how the affluent investors invest, where they invest, and what they expect from their investments.

Key findings include:

  • In 2015, there were 29.8 million Mass Affluent households with a net worth between $100,000 and $1 million, NIPR.
  • The number of Millionaires, with a net worth between $1 million and $5 million, reached 9.1 million.
  • The Ultra High Net Worth market, those households whose net worth is between $5 million and $25 million, NIPR, grew to 1,210,000, an increase of 42,000.
  • The number of $25 million-plus households grew by 3,000 to 145,000.

"Despite ongoing concerns about market volatility and the direction of the U.S. economy, the number of affluent American households expanded in 2015," said George Walper, Jr., President of Spectrem Group. "This report underscores that wealth creation continues to occur in the United States, with the number of millionaire households growing by more than 3 percent in 2015."

While all affluent U.S. households have experienced significant wealth expansion since 2008 -- the depth of the Great Recession -- the greatest increase has occurred among the wealthiest households. The number of households reporting $25 million-plus in net worth grew by nearly 73 percent, compared with growth of 59 percent for Ultra High Net Worth households, 54 percent for Millionaire households, and 22 percent for Mass Affluent households, respectively. 

Additional information on Spectrem studies can be found at Spectrem.com and Spectrem's Millionaire Corner, including:

About Spectrem Group: Spectrem Group (www.spectrem.com) strategically analyzes its ongoing primary research with investors to assist financial providers and advisors in understanding the Voice of the Investor.

About Millionaire Corner: Spectrem's Millionaire Corner website (www.millionairecorner.com) provides information for investors about investors. With its Best Financial Advisors service, investors can search for financial and investment advisors to assist in growing their wealth.

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