Excerpt from: Wealth Strategies Journal 2.0 (click for full article)
The number of U.S. households with a net worth of $1 million or more,
excluding the value of their homes, has increased to approximately
9 million in 2012, in part attribute to the stock market's record
highs. The economic downturn caused the stock market to decrease by
more than half beginning in October 2007, and continued its struggle to
reach performance highs through March 2009. With its recent surge, the
market has made a comeback with the Dow closing on March 14, 2013 at a
record high of 14,539. This surge has lifted hundreds of thousands of
American families above the millionaire mark.
See Michael A. Fletcher, As stocks rise, more join the ranks of millionaires, Wasthingtonpost.com (March 15, 2013).
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