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Question of the Day: How Many Millionaires Are There in the United States?

There are approximately 330 million people in the US. How many can claim to be worth a million dollars?

Answer: 21,951,000 people (about 6.7% of the population)

Ask:

Is this a financial goal of yours? Do you think it is healthy to have such financial goals? To explain. Why do you think most people fail to achieve these kinds of goals? What obstacles stand in the way? A friend asks you what you think are the three most important factors in becoming a millionaire. What do you tell them?

Here are the ready-made slides for this question of the day that you can use in your classroom.

Behind the numbers (Investopedia):

“Overall, wealth growth at the top has defied expectations about the effects of the global COVID-19 pandemic. Much of the new gains can be attributed to gains in stock prices and real estate valuations, with especially in the second half of 2020.

According to the Credit Suisse report, the average US adult’s wealth rose 6% to a record high of $79,952.

However, “average” wealth can be a deceptive number. About $5 trillion is now owned by just 745 American billionaires, compared to about $3 trillion distributed among the bottom half of American households. The total wealth of American billionaires increased by about 70% during the pandemic.”

Want to show your students the power of compounding and how to become a millionaire? Check out NGPF’s Investing unit!

NGPF’s virtual PD can keep your content knowledge up to date as you discuss these important topics with your students!

About the author

Ryan Wood

Ryan grew up with and maintains a love of learning. He studied business administration at the University of Wisconsin-Green Bay and spent several years in sports marketing. After living in Texas, Colorado, Tennessee and Minnesota, the call for education eventually brought Ryan back to his home state of Wisconsin, where he was a Business Administration and Marketing teacher for three years. In his spare time, he enjoys spending time with his wife and daughter, playing basketball, reading and fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.


This post Question of the Day: How Many Millionaires Are There in the United States? was original published at “https://www.ngpf.org/blog/question-of-the-day/question-what-percent-of-americans-think-they-will-be-millionaires-at-some-point/”

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