World is home to more than 10 million millionaires

CNN.com reports today (6/25/2008) that "The number of people around the world with at least $1 million in assets passed 10 million for the first time last year, according to a report. And their bank accounts are growing even faster."

Read the article.

TNS Reports Another Record-Breaking Year for Millionaire Households

TNS has released results from its annual Affluent Market Research Program (AMRP). For the sixth consecutive year, TNS found that the number of millionaire households has increased significantly. Key findings from the survey include:

• - Millionaire households (households with $1MM+ net worth, not including primary residence) increased by 5.9 percent from June 2006 to June 2007, reaching an estimated 9.9 million
• - The mean age of the U.S. millionaire households is 66 with an average net worth (NIPR)of $4.6MM
• - The single most important financial goal of surveyed millionaires (56 percent) continues to be "assure a comfortable standard of living during retirement"
• - Retirement and education are top of mind for this population, with most often cited financial event in the past year of "rolled over a retirement account (13 percent);" followed by "paid for a child's education (9 percent)" and "paid for a grandchild's education (8.5 percent)."

View the full summary report.

California Boasts Most Millionaires

According to a new survey from research company TNS, and reported in the 5/5/08 Wall Street Journal "Wealth Report," California and other Western states had seven of the top 10 spots, with California dominating. New York rounded out the bottom with two spots. Click here to view counties with millionaires by rank - note that TNS defines millionaire households as those with at least $1 million in net worth, not including primary residence.

Slow Growth in Millionaire Population

Robert Frank, from the Wall Street Journal's "Wealth Report," writes about how the wealthy are in an economic slump. "According to Chicago-based Spectrum Group, the number of millionaires in the U.S. grew a meager 2% in 2007. That compares with 8% growth in 2006, 11% in 2005 and 21% in 2004."

Read more of this 3.12.08 report.

World's Millionaires Have $50 Trillion

The Wall Street Journal's "Wealth Report" reports that, according to a study by Oliver Wyman, total wealth held by the world's financial millionaires - those with $1 million or more in investible assets - has grown to $50 trillion and that wealth is expected to grow 50% over the next five years to $75 trillion.

Read the 4.1.08 Wall Street Journal article.