Society: Millionaire Population Soars — Again

According to a new survey from Phoenix Marketing International's Affluent Market Practice, the number of American households with investible assets of $1 million or more rose 8% in the 12 months ended in June. The survey says there now are 5.55 million U.S. households with investible assets of $1 million or more.

That follows two years of declines and brings the millionaire count back to 2006 levels. Of course, that is still below the peak of 5.97 million in 2007 and the current growth rate is well below pre-financial crisis levels, when the millionaire population increased as much as 35% a year.

Still, the numbers offer further evidence that the wealthy may have decoupled from the rest of the economy. The study's authors say high salary growth, rather than investments, are the main drivers of the millionaire expansion.

For more, see Millionaire Population Soars — Again by Robert Frank, September 16, 2010, at The Wall Street Journal.