Land of Opportunity: More Millionaires Now than Ever

According to this article published in the WSJ Online, there are more millionaires now than ever before (7.5 million). I think that's great news and a testament to the ability of our country and economy to encourage entrepreneurship and growth. I especially like this quote:

A separate study, also released yesterday, by Boston Consulting Group found that the U.S. continues to lead the world in creating new millionaires. The number of households in the U.S. with liquid assets of $20 million or more is increasing by 3,000 households a year.

Something else to ponder is the propensity of the wealthy to get that way by investing:

Households with net worth of $3 million or more garnered 34% of their wealth last year from investment gains, according to the Spectrem survey. Only 31% of their wealth last year came from compensation. The remainder came from privately owned businesses, inheritances and other sources.

Check it out.