Emerging Affluent: America Hits Record Number of Millionares
My friend Blaine will be happy to read this article.

The TNS study also found that the number of "emerging affluent" households is also on the rise.

TNS defines "emerging affluent" as households with a net worth between $100,000 and $500,000, excluding primary residences.

This year, they number 24.5 million, up from 23.9 million in 2004.

"More and more we are seeing financial institutions offer planning services designed specifically for the emerging market. As these households continue to take advantage of these tools, we're seeing their numbers increase," Luhr said.

The average age of the emerging affluent is 49.6, and the average total income reported is $64,600. Among those households that drew some of their income from jobs, they earned an average of $45,000 from salaries or professional fees.

Retirement confidence among these households is high: 69 percent said they felt they will be prepared for retirement.

posted by Jimmy at 9:49 AM | |