Data & Research January 7, 2008
Much More?
How much money does it take to be considered rich?
Reported by PLANADVISER Staff
Well, to be “rich’ today requires at least $5 million, according to a new survey of affluent households – that is, households with investable assets of $500,000 or more.
Asked how much money it takes to be rich, research by Millionaire Corner, a newly launched Web site powered by Spectrem Group:
- 45% chose $5 million
- 25% selected $25 million, and
- 22% – said $1 million
- 8% picked $100 million
The data on how much it takes to be rich are based on 253 telephone interviews conducted in December 2007, with a margin of error of plus or minus 6.2 percentage points.
Interviews were conducted with the financial decision-makers in households with $500,000 or more in investable assets.
The Millionaire Corner is at http://www.millionairecorner.com