U.S. MILLIONAIRES RISE TO RECORD 8.3 MILLION IN 2005

[papau]

http://www.spectrem.com/custom.aspx?id=30

U.S. MILLIONAIRES RISE TO RECORD 8.3 MILLION IN 2005

The number of US households with a net worth of $1 million or more,excluding primary residence, set a second-consecutive record in 2005-- rising to 8.3 million, according to Spectrem Group's "Affluent Market Insights 2006" report. This gain of 800,000 net, new
millionaires represents an 11% increase over the 2004 millionaire total of 7.5 million. Ultra High Net Worth households (those with a net worth of $5 million or more) wsurged 26% in 2005 to a new record of 930,000.

In terms of the overall affluent market, which comprises households with a net worth of $500,000 or more, excluding primary residence, total membership rose to a record 14 million in 2005, up 7% from 13.1 million the year before.

On average, affluent households hold the biggest percentage of their total assets in investable assets (45%), which include stocks and bonds, managed accounts, IRAs, mutual funds, deposits and alternative investments. Of their remaining total assets, privately held businesses account for 15%, followed by the principal residence (14%), pension and defined contribution plans (11%), other real estate (9%), insurance and annuities (5%) and restricted stock (1%).

The report, “Affluent Market Insights 2006,” is based on data gathered through mail and online surveys of 1,014 qualified respondents from September 2005 to November 2005. The margin of error is plus or minus 3.1 percentage points.

[endarkenment]

1. When we are all millionaires will we figure out

that they are simply lying to us about the real rate of inflation?

[wtmusic]

2. A run on the dollar could change everything

and make Black Friday look just a pale gray

[zbdent]

3. So, when are all these recipients of the Bush economic policies

going to start spending their money?