U.S. Households Worth $5 Million or More Exceed 1 Million for First Time Ever These Richest Households Grew 23% in 2006 to a Record 1.14 Million

Households Worth $1 Million or More Hit 9 Million

    CHICAGO, April 17 /PRNewswire/ -- The very rich had a banner year in
     The number of U.S. households with a net worth of $5 million or more,
 not including primary residence (NIPR), rose to a record 1.14 million in
 2006 -- surpassing 1 million for the first time ever, according to a new
 report from Spectrem Group, "Affluent Market Insights 2007," released
     This represents a 23% increase from 930,000 in 2005, and a quadrupling
 from 250,000 Ultra High Net Worth households in 1996.
     Millionaire households, those with a net worth of $1 million or more
 (NIPR), grew to 9 million in 2006, an 8% increase from 8.3 million the year
 before. Affluent households, defined as having $500,000 or more of net
 worth (NIPR), reached 15.3 million last year, an increase of 9% from 14
 million in 2005.
     "The past few years have been nothing short of astounding for wealthy
 Americans. We now have more than 15 million affluent households in the
 United States, 9 million households worth $1 million or more and -- for the
 first time ever -- more than 1 million Ultra High Net Worth households
 worth $5 million or more. The Ultra High Net Worth households saw the
 strongest growth of all affluent segments in 2006, increasing by 23% to a
 record 1.14 million. This represents a quadrupling of their number in just
 10 years," said Catherine S. McBreen, Managing Director of Spectrem Group.
     The report, "Affluent Market Insights 2007," is based on a mail and
 online survey in July 2006 of 526 U.S. households with a net worth of $5
 million or more (NIPR) as well as 3,000 telephone interviews throughout
 2006 with affluent households, defined as having $500,000 or more of net
 worth (NIPR). The report data have a margin of error of plus or minus 4.3
 percentage points. The report's market size figures are derived from
 Spectrem Group surveys and other sources.
     Those interested in a copy of "Affluent Market Insights 2007" should
 contact Spectrem Group at 641 W. Lake Street, Suite 402, Chicago, IL 60661,
 (312) 382-8284 (http://www.spectrem.com).
     About Spectrem Group
     Spectrem Group is a strategic consulting firm specializing in the
 affluent and retirement markets. It integrates proprietary research with
 expertise in building business, marketing and M&A strategies. Spectrem
 professionals have held senior management positions at leading global
 companies. Through a collaborative process, they create and implement
 practical and profitable strategies that fit the cultures of client firms.

SOURCE Spectrem Group

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