2006-11-12 11:58:32 · 5 answers · asked by Ralph J 1 in Social Science ➔ Economics
I don't know the exact number, no where close. But we are all priceless. The same person can never be created twice? With all the people that have existed in the world, if ya want to talk odds, just how is that possible.
Many people appear to have much more than they do because of credit. That might make it harder to access.
I have heard you can get a home worth millions for something like 400 a month, if you're credit is good. Maybe that is worth more than money, it seems.
2006-11-12 12:04:20 · answer #1 · answered by smoothsoullady 4 · 0⤊ 5⤋
It all depends on what survey you are looking at, and what they used to calculate what a person is worth. At the end of 2005, almost 2.5 million Americans had financial assets (excluding real estate) equal or higher than 1 million dollars according to Merryl Lynch study. We are now over 300 million Americans, so in percentage, about .8% of americans are millionaires.
For the same period, the Spectrem Group calculates over 7.5 million americans as millionaires. The difference in this study is that, eventhough primary residence is excluded from the net worth of a person, second and vacations homes are calculated. So this study says that 2.5% of americans are millionaires.
So anything from 1 to 2.5% of americans are worth over a million bucks!
Hope this helps. Check the sources. Take care!
2006-11-12 18:12:04 · answer #2 · answered by Chess 4 · 0⤊ 0⤋
Actually, the number is quite high, when you consider that the average persons greatest asset is their home. The cost of average homes have presently inflated into the $400.000-$700,000 range. This, coupled with a few other assets makes a middle class person easily worth over $1 million.
2006-11-12 12:11:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
My only response to that question is that it is the percentage that DOES NOT include me.
Actually I do have a friend (best man at my wedding) is worth over a million $$. He is an optometrist...no, not the MD type ophthalmologist...but an OD who checks your eyes and prescribes glasses.
He built his home for $800,000 cash (sale of previous home) and it is now valued at about $1.8M, he owns 2 buildings that I know of one valued at $300,000 and the other at about $150,000. And we didn't even discuss his private pension plan.
He he wasn't my best friend...I might not like the guy! Hey, he's bright, works hard and actually a nice guy.
2006-11-12 12:07:23 · answer #4 · answered by iraq51 7 · 0⤊ 0⤋
right now, probably around 10%... over a lifetime probably around 70% of us make more than that...
2006-11-12 12:01:33 · answer #5 · answered by ILuvMe 4 · 0⤊ 0⤋