CHICAGO, IL--(Marketwired - Mar 13, 2014) - The number of U.S. households with a net worth of $1 million or more, not including primary residence (NIPR), reached a record high in 2013 of 9.63 million, increasing more than 600,000 from 2012, according to the Affluent Market Insights Report 2014 by Spectrem Group. After the previous high of 9.2 million in 2007, the recession reduced the number to 6.7 million in 2008.
All household wealth segments grew in 2013:
- Those with $100,000 or more in net worth NIPR climbed to a record 38.6 million from 37.4 million in 2012. The total was 31.2 million in post-recession 2008.
- Those with $5 million or more in net worth NIPR also reached a record high of 1.24 million from 1.14 million in 2012. There were only 840,000 in 2008.
- Those with $25 million or more in net worth NIPR grew by 15,000 to 132,000 in 2013. In 2008, there were 84,000 with $25 million or more in net worth.
"Most of the financial damage done by the recession has been erased by recent record-high markets in 2013 as well as continued rebound in the real estate markets," says George H. Walper Jr., president of Spectrem Group. "In terms of the affluent investor, it is fair to say they have finally recovered from the economic downturn."
Additional insights are available at Spectrem.com and Spectrem's Millionaire Corner:
Spectrem Group sizes the number of wealthy households using data from multiple sources including Census Bureau Information and monthly online research with more than 12,000 investors, net worth $100,000+, NIPR. All of the data in the report has a margin of error of 4 percent.
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 Spectrem's MillionaireCorner.com
Millionaire Corner is a premier independent online resource for investors and about investors. Millionaire Corner delivers timely, relevant and practical information and tools to help fuel financial growth for Millionaire investors and aspiring millionaires. With its Best Financial Advisors service, investors are able to search and evaluate financial advisors based on actual customer reviews of satisfaction with the advisor.
Charts, full methodology and summary insights available upon request.