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What percentage of U.S. households have a minimum net worth of $1mm?

Source: Yahoo! Finance
Time: 2004

The correct answer is: 7%.

There are more millionaire households in the U.S. than ever before according to the "Affluent Market Research Program", an annual survey issued by TNS Financial Services. In mid-2004, TNS reported that 7% or 8.2mm households had a minimum net worth of one million dollars.

Approximately 2.2mm new households joined the millionaire club in 2004, representing a 33% increase. Experts attribute the rise to strong market conditions. In 2003 when millionaire households increased by 13% the driving factor was real estate appreciation.

The researchers also noted that the typical household reached the million dollar threshold by sticking to the tenets of long term investing and did not change strategies each time the market moved against them. According to Jeanette Luhr, manager of the research program, "We don't see this group's ownership of stocks and bonds change much during downturns. They clearly understand the implications of investing over a long period of time."