Ever wondered how many Americans are millionaires? I have and now I wished that I hadn’t. Because a new report by Credit Suisse says that not only were 1.1 million new millionaires created in the U.S. in 2017, freaking 1 out of every 20 Americans, or approximately 15,356,000 of them, can now call themselves millionaires.
So yeah, enjoy that PB&J sandwich you packed for lunch today.
Reports Money magazine…
The rise in the stock market is the biggest reason for the gains, which in turn were driven by both stronger underlying economic conditions and the prospect of lower taxes and deregulation, Credit Suisse reported.
“Wealth per adult has now fully recovered [from financial crisis lows], and is 30% above the 2006 level,” the bank says. “There is some uncertainty about future interest rates and stock market prospects, but otherwise the signs are mostly positive for household wealth.”
Americans now account for 43 percent of the world’s millionaires.
Unfortunately, for the rest of the world, and the Americans who are NOT millionaires, things aren’t quite so rosy.
Credit Suisse also reports that in every region of the world except for China, median wealth has actually gone down.
And despite America having 43 percent of the world’s millionaires, the United States’ median wealth is just $55,876, placing it 21st in the world. 21st…America is 21st. That ain’t right, people.
By comparison, here are the top 10 countries in the world based on median wealth…
1. Switzerland: $229,000
2. Australia: $195,400
3. Belgium: $161,000
4. New Zealand: $147,600
5. Japan: $123,700
6. France: $119,700
7. Singapore: $108,900
8. United Kingdom: $102,600
9. Canada: $91,058
10. Taiwan: $87,257
Be right back… gonna go check out the available housing and jobs here…
Seems like it might be a nice place to live.