More Millionaires Arrive (Editorial)

An Affluent Market Research Program survey conducted by market information company TNS says there are more millionaires in America than ever before, and the rate of increase over last year is also a record.

The survey shows 8.2 million U.S. households with a net worth of more than $1 million, excluding primary residences — up 33 percent over the 6.2 million households in 2003. The number of millionaire households is about 7 percent of all U.S. households.

Steady investing throughout the bear market is credited with the record growth in millionaires.

Most millionaires today don’t have inherited wealth. They work hard, they save, and they invest wisely. Half this year are retired.

And they probably don’t waste their money on books that tell them how to get rich buying real estate with no money down or placing tiny classified ads in newspapers.