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US Economy: US adds 400,000 millionaire households in 2016, setting record - by Robert Frank

 The number of millionaire households in America increased by 400,000 in 2016, reaching a record of 10.8 million, according to a new study.

Since the 2008 financial crisis, the number of millionaire households has grown every year, adding a total of 4 million millionaire households, according to Spectrem Group, the wealth research firm.

The stats mean that more than one out of every 10 households in America is worth $1 million or more.

Spectrem defines millionaire households as those households with $1 million or more in investable assets, not including a primary residence.

The number of multimillionaire households has also grown. There are now 1.4 million households worth $5 million or more and 156,000 households worth $25 million or more.

 Read m,ore: US adds 400,000 millionaire households, setting record

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