Google Answers Logo
View Question
 
Q: High Net Worth Distribution ( No Answer,   1 Comment )
Question  
Subject: High Net Worth Distribution
Category: Business and Money > Economics
Asked by: ajchianese-ga
List Price: $50.00
Posted: 09 Aug 2006 12:57 PDT
Expires: 08 Sep 2006 12:57 PDT
Question ID: 754396
I would like figures on the number or percentage of US households or
individuals (preferably households) with net worth in the following
categories:

$5 million-$10 million
10 million-$15 million
$15 million-$20 million
$20 million-$25 million

So, the ideal answer to my question would look something like this
(these are of course made-up numbers):

$5 million-$10 million: 200,000 US households
(Said otherwise, there are 200,000 households in the US whose net
worth is between 5 and 10 million dollars.)

$10 million-$15 million: 150,000 households
$15 million-$20 million: 100,000 households
$20 million-$25 million: 50,000 households

I have already found, through Google Answers, an IRS document
displaying what I believe to be individual net worth in the US in 2001
(http://www.irs.gov/taxstats/indtaxstats/article/0,,id=96426,00.html).
 While not quite as broken up as I would like to see (they break
things up into $5-10 million, $10-20 million, and $20 million or
more), my main problem with this document is its date; I would like
something more recent.

Request for Question Clarification by pafalafa-ga on 10 Aug 2006 05:08 PDT
ajchianese-ga,

Data on wealth in the US is notoriously difficult to come by.

The closest I can get you are 2003 stats on income.  

In 2003, there were 11,168 tax returns with incomes between $5-10
million (about .01% of total number of returns), and another 6,126
returns of $10 million or more.

There are detailed breakouts below the $10 million mark, but none above.

Beyond that, there simply doesn't seem to be any reliable information
in the public domain.  The next available set of data that I know of
is the super-wealthy, with lists like Fortune Magazine's list of
wealthiest people.

Does that help at all?

pafalafa-ga

Clarification of Question by ajchianese-ga on 17 Aug 2006 11:05 PDT
palalafa-ga,

I'm sorry for the delay, I assumed I would be notified via automatic
email of any responses to my question.  Thank you for your reply, but
I was looking for net worth data, not income data.  So, I guess it
doesn't help me.  You're right, these data are indeed quite difficult
to come by.

Best,
AJ
Answer  
There is no answer at this time.

Comments  
Subject: Re: High Net Worth Distribution
From: neilzero-ga on 11 Aug 2006 09:33 PDT
 
In the USA, punishment is typically quite mild if you lie about your
income, so many people do lie, both high and low. These likely average
out, so income groups may be quite accurate. Net worth can be quite
different from annual income and many people do not report (or even
know) their net worth to anyone. Those that do report a net worth, the
info is often confidential and may also be lies.
Even if you hack into protected data, analysis is difficult, and
subject to a wide variety of errors.   Neil

Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. Please read carefully the Google Answers Terms of Service.

If you feel that you have found inappropriate content, please let us know by emailing us at answers-support@google.com with the question ID listed above. Thank you.
Search Google Answers for
Google Answers  


Google Home - Answers FAQ - Terms of Service - Privacy Policy