What % of Americans have 1 million in cash ?

Question

1 mil in assets ?

Answer 1

Those are two VERY different questions!

At last count, about 9 million US households had assets or a net worth of $1 million or more, but I could find no evidence that there were any holding $1 million in cash.  You don't get to be a millionaire by having money just "sit there", so unless they won it in a lottery, I strongly doubt there is any individual holding that much in cash.  It would be a waste of HUGE potential.

Nine million millionaires is about 3.3%, or 1 in 30 people.

Two interesting statistics about millionaires:

80% of them are "first generation" millionaires (they MADE their money, they did not inherit it)

Immigrants to America are 8 to 9 times more likely to become millionaires than people born here.

Answer 2

1 million in assets is easy and dangerous if you have it all on loans like most people these days do.

I would consider anything easily convertable into cash like stocks to be cash equivalents.