Transition to the New Economy

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I was recently reading an article that stated that the millionaires club has grown by 600,000 people. Apparently, the number of people with at least $1 million in assets passed the 10 million mark for the first time in 2007. The combined wealth of these millionaires grew to $41 TRILLION, an increase of 9% in 12 months. That means each person’s average wealth is at the $4 million mark – the highest number ever.

The ranks of “The Club” are growing fastest in India, China and Brazil but despite this, the United States is still home to every one in three millionaires. All told, there are 600,000 more millionaires this year than last and that represents a 6% population increase.

Are you one of them? We’d hope so.

What’s that about a recession again?

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