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Q: net worth of households ( No Answer,   1 Comment )
Question  
Subject: net worth of households
Category: Reference, Education and News
Asked by: reconman-ga
List Price: $10.00
Posted: 20 Jun 2006 17:28 PDT
Expires: 20 Jul 2006 17:28 PDT
Question ID: 739809
I have tried this search and came up short. :o( Here we go: what
percentage of US households have a net worth of $10 million? That can
include primary residence but if you can find it based on the
"financial asset" model, that's fine too. Also, if you can get a
number, we can just divide by US total households to get a percentage.
Thanks all! John

Request for Question Clarification by pinkfreud-ga on 20 Jun 2006 17:38 PDT
Do you need the number of households who have a net worth of exactly
$10 million, or do you need the number of households who have a net
worth of $10 million and above?

Request for Question Clarification by pinkfreud-ga on 20 Jun 2006 18:26 PDT
If you'll accept info on households with a net worth of $10 million
and up, here's a good source. The Spectrem group produces detailed
reports on ultra high net worth (UHNW) households:

"Despite the prolonged market downturn, the wealthiest investors ?
households with net worth in excess of $10 million ? continue to be
the fastest growing segment of the U.S. population. These individuals
comprise just 1% of total U.S. households, but control more than 35%
of U.S. investable assets."

http://www.spectrem.com/ProductInfo.aspx?productid=0235-921

Please let me know if this would meet your needs.

Clarification of Question by reconman-ga on 02 Jul 2006 18:41 PDT
That's a good start for me, thanks. I really would like to know ones
with approx 10 million net worth, not greater than or equal to. Am I
dreaming to be able to get that?

Thanks again!

John
Answer  
There is no answer at this time.

Comments  
Subject: Re: net worth of households
From: emc123-ga on 06 Jul 2006 20:20 PDT
 
This spreadsheet from the IRS shows the number of households with net
worth between $5 mil and $10 mil and between $10 mil and $20 mil, as
well as the investing activity for these individuals:
http://www.irs.gov/pub/irs-soi/01in01pw.xls.  I hope that can help you
some.

I would think that the IRS would be the best source of data for
determininghow many people there are with exactly $10 mil in net
worth, although it would certainly take a phone  call, and that data
may be confidential.  Additionally, when you start getting into
specifics such as "exactly" a certain amount, you run the risk of not
finding anyone, because variables such as net worth will always
require a range (i.e., individuals with $10.5 million net worth do not
qualify, nor do individuals with $9.99 mil).  It is highly unlikely
that you will find an individual with exactly $10 mil in net worth
unless that person is making a conscious effort to keep the number
round.

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