NEW YORK (CNN/Money) - There are 700,000 more millionaire households this year than in 2004, according to a survey released Wednesday.
Households with a net worth of at least $1 million excluding primary residences rose 8 percent to a record high 8.9 million, according to an annual report by TNS Financial Services, a market research and polling firm. This is the third consecutive annual increase, although this year's growth rate is far more modest than the 33 percent increase seen in 2004. Interestingly, although the number of millionaire households grew, the averages among some of their primary investments were down. TNS found that there were fewer millionaire households who owned investment real estate this year than last, although real estate continued to be a staple in investment portfolios for many. And while the number of millionaire households owning individual stocks and bonds went up, the average balance in their investment portfolios went down. Likewise, those owning mutual funds also saw their account balances decline from an average of $355,000 last year to $283,000 this year. On the plus side from a net worth perspective, these households' overall debt fell, by 8 percent, from an average of $179,000 last year to $165,000. http://tinyurl.com/aong5 On 9/28/05, Matthew Small <[EMAIL PROTECTED]> wrote: > It's an either-or situation - you're either "rich" or "poor", there's no > middle in this case. > > 1) The rich become wealthier, and the number of poor people increases. > 2) The middle-class folks lose their jobs and become poorer. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Find out how CFTicket can increase your company's customer support efficiency by 100% http://www.houseoffusion.com/banners/view.cfm?bannerid=49 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:175362 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
