Millionaires Aren't What They Used to Be

As reported on The Wealth Report, the latest Spectrem survey shows the number of U.S. millionaire households edged up to 8.6 million, close to the 9.2 million recorded before the Great Recession. But that's before accounting for inflation.

To make the threshold for the $1-million-and-up roster back in 1997, a household would need about $1,400,000 in today's dollars. (And those who believe the CPI has been understating inflation would say that estimate is low.)

Moral: The current crop of "millionaire households" aren't necessarily rich  Many need all the wealth-managment assistance they can get.