This ad will close in

Getting A Life

In The Money

Ready to join the millionaires' club?

By Janean Chun

Odds are, you could already be a millionaire, without Ed McMahon even stepping foot near your door. The number of millionaires in the United States is growing--at a faster rate than that of the population in general, in fact. According to PSI, a Tampa, Florida-based market research and consulting firm, the millionaire population is growing by 7.5 percent a year, an especially impressive rate when compared with the overall population growth of only 1 percent annually.

Is the United States experiencing a millionaire boom? "Absolutely,' says John J. DeMarco, senior vice president at PSI, who also notes that the number of U.S. households with investable assets of $1 million or more has more than doubled in the past four years to a total of 2.7 million. As DeMarco sees it, the principal reason for this flow of cash is the rise in entrepreneurship. "Entrepreneurship has always been a key route to wealth in America,' he says. "And now everybody's talking about it and [starting businesses] in record numbers.'

Apparently, money does beget money--DeMarco anticipates this level of growth to continue until at least 2010, when 7.4 million U.S. households will have made it into the million-dollar club.

Like this article? Get this issue right now on iPad, Nook or Kindle Fire.

This article was originally published in the September 1997 print edition of Entrepreneur with the headline: Getting A Life.

Loading the player ...

Forget Time Management. Do This Instead and Be More Productive.

Ads by Google

0 Comments. Post Yours.

Most Shared Stories

1
The 3 Attributes to Look for in Top Talent
2
14 Books Every Entrepreneur Should Read in '14
3
5 Key Characteristics Every Entrepreneur Should Have
4
What Motivates Entrepreneurs to Do What They Do? (Infographic)
5
How to Change Your Beliefs and Stick to Your Goals for Good

Trending Now