Thursday, February 15, 2007

Dear Yahoo!:

Dear Yahoo!:
How many millionaires are there in the United States?
Upwardly Mobile


Dear Upwardly Mobile:
There are literally millions of millionaires in the United States. In fact, according to this 2005 article from MarketWatch, 8.9% of Americans are millionaires. That translates to roughly 2.6 million people.
Of course, being a millionaire doesn't necessarily mean you have millions of dollars in cash lying around your mansion and stuffed in the glove box of your Ferrari. To determine someone's overall wealth, all their holdings are looked at, including investments, cash, furniture, baseball cards, ridiculously expensive automobiles, and real estate. However, a person's primary residence does not count toward the total.

The Affluent Market Research Program conducted a study to determine which counties in the United States host the most millionaires. According to their findings, Los Angeles County tops the list with roughly 262,800 millionaire households. Next is Cook County, Illinois, followed by Orange County, California (aka "The O.C.").

Finally, if you really want to be a millionaire and you're not cut out for major-league baseball, consider becoming a United States senator. Although the position doesn't guarantee wealth, a shocking 40% of senators are certified millionaires. Gotta like those odds...

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