Our poll question last week was an insight check: we asked our readers which group comprised the biggest part of the “Super Wealthy.”
The answer lies in what we consider “Super Wealthy.” There are many different categories of wealth: the “mass affluent,” described as those with a net worth between $100,000 and $1 million; the “millionaire,” which is easily defined; the “ultra-high net worth,” those with a net worth of up to $24 million; and the $25 million-plus investors.
Our readers determined that baby boomers comprise the largest part of each of these segments, which is true – except for the $25 million-plus investors. That group’s largest constituency is millennials, which make up 47%.
In that segment, millennials averaged nearly twice as much money as their boomer counterparts.