CHICAGO, IL, USA, March 15, 2021 /EINPresswire.com/ — The number of wealthy American households reached a new record high in 2020 according to Spectrem Group’s newly released Market Insights Report 2021. The study reveals that U.S. Millionaire investors – households with $1 million to $5 million in net worth, not including the value of their primary residence (NIPR) – increased by 600,000 to 11.6 million in 2020, a 5.5 percent increase over the previous year.
Similar increases were reported across other wealth segments profiled in the report, which analyzes changes in the number of wealthy American households based on net worth, from the Mass Affluent ($100,000 as the minimum) to the $25 million-plus segment. Other key findings include:
• The number of wealthiest U.S. households – those with a net worth of $25 million or more NIPR – increased by 9.2 percent in 2020 to 214,000, compared with 196,000 at the end of 2019.
• Ultra-High Net Worth investors whose household net worth stands between $5 million and $25 million NIPR, grew a whopping 324,000, or 21.3 percent, reaching 1.8 million at year-end.
• According to the report, there were 32.3 million U.S. Mass Affluent households with a net worth between $100,000 and $1 million NIPR at year end versus 31.8 million in 2019, an increase of 1.6 percent.
• Despite increasing wealth, 30 percent of investors surveyed said they are concerned about potentially needing to delay their retirement, while more than a third of women feel their personal mental stress has increased because of the pandemic.
“Even in the midst of a historic global pandemic, America’s bull market continued to create trillions of dollars of wealth for investors in 2020,” said Spectrem President George H. Walper, Jr. “With the recent passage of the $1.9 trillion economic stimulus bill and growing numbers of vaccinated Americans, prospects for the U.S. economy continue to strengthen which should provide investors with significant opportunities again in 2021.”
Additional details from Market Insights 2021 can be found here:
About Spectrem Group: Spectrem Group (www.spectrem.com) strategically analyzes its ongoing primary research with investors to assist financial providers and advisors in understanding the Voice of the Investor.
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