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According to British market research firm TNS Financial Services, there are more millionaires in the US than ever - some 8.9 million households to be exact. A millionaire is counted as someone with a net worth of $1 million or more, not counting their principal residence.
The 8.9 million households represent about a 9% increase from the estimated 8.2 million millionaires in a 2004. Of these households, the average net worth (not counting their principal residence) was $2.2 million with over $1.4 million of that being in liquid assets. Interestingly, the survey found that more than half of these millionaires have taken a more conservative approach with their money in the last year. Over a quarter (29%) don't own any stocks or bonds while nearly one-third (32%) do not have any of their money in mutual funds. |
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