The bull stock market is delivering a dose of confidence to the rich.
The average U.S. millionaire is 61 and invests his or her money in domestic stocks, cash, CDs, ETFs, bonds and mutual funds.
The U.S. lost 129,000 millionaire households in 2011, largely as a result of poor performance in the stock market.
It’s official. A major campaign plank of President Barack Obama’s re-election effort is tax fairness.
Although 71 percent of millionaires surveyed by PNC Wealth Management agree in theory with billionaire Warren Buffett that the rich should pay more in taxes to improve the economy, nearly half of them say they shouldn’t personally pay more because they’re not in the same league as Buffett. So, while only 20 percent say that
Investor fear has driven down stock prices on even the best-quality equities, which makes for a great opportunity for iron-stomached, sophisticated investors to buy. Yet watching the news for even one day could give investors plenty to worry about globally, and I haven’t talked to a single seasoned investment professional who hasn’t told me that
If you had to guess which U.S. city has the highest number of wealthy individuals (investable assets of $1 million or more) would you automatically think New York, or maybe Los Angeles? Although both make the top 10, San Jose, Calif. (home of ebay and Cisco Systems, as well as other tech companies) comes in at
The world’s millionaires are back in the black for the first time since before the economic crisis and are shifting out of cash and fixed-income and into equity investments. Worldwide, the population of millionaires (10.9 million at the end of 2010) has hit a new high, increasing its numbers by 8.3 percent since 2009, according
The total wealth of the world’s millionaires will more than double by 2020, with the U.S. holding the lead, according to a study by the Deloitte Center for Financial Services and Oxford Economics. Worldwide wealth will balloon from $92 trillion worldwide this year to $202 trillion in 2020, an increase of 119 percent. Of the
The number of millionaire households in the U.S. rose for the second straight year in 2010, to 8.4 million, according to the latest report by Spectrem, a Chicago consulting group. After dropping by 27 percent in 2008, the millionaire population has been increasing for two straight years, by 16 percent in 2009 and 8 percent