How many millionaires do you think are in the usa that are under 40?

Question

what are the odds of finding a single millionaire under 40?

Answer 1

The first answer in this thread is outrageously incorrect. It assumes that a 18 year old is just as likely to be a millionaire as a 68 year old. Kinda silly.

In reality, it should be a small number. That is true that there's about 7-9 households with a net worth of over $1m, but it includes the primary residence. Also, these are _households_, not individuals, so they share this money with their spouse.

According to World Wealth report, the number of high net worth individuals in the US, which is defined as having $1m of assets excluding the primary residence, is a bit less than 3 million in 2009 (~2,900,000).

Now, their age distributions is going to be heavily skewed towards an old age (which makes sense, doesn't it?). Some statistics (http://www.evancarmichael.com/Business-Coach/4807/Demographic-Profile-of-an-Average-American-Millionaire.html) say that only 10% of all US millionaires are under 40.

Taking that as a rough estimate, there are probably about 300,000 millionaires under 40 in the US.

According to (http://www.infoplease.com/ipa/A0110384.html), there were only about 100 million people in US of ages 20 to 44.

So if you see an adult person under 40, the chance he/she is a millionare is 300,000 in 100,000,000 or 0.3%. Or about one person in 300.

Artem.