There are about 330 million people in the US. How many can claim they're worth a million bucks?

Answer: 21,951,000 people (about 6.7% of the population)

Questions:

• Is this a financial goal of yours? Do you think it's healthy to have financial goals like this? Explain.
• Why do you think that most people fall short of achieving this type of goal? What hurdles stand in the way?
• A friend asks you what you think are three key factors to becoming a millionaire. What do you tell them?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom. 

Behind the numbers (finmasters):

• 21,951,000 people in the U.S. have a net worth of $1 million or more. 
• Among all states, New Jersey has the most millionaire households.
• Only 3% of American millionaires received an inheritance of $1 million or above.
• Real estate makes up about 40% of a typical millionaire’s net worth.
• China, Japan, Germany, the U.K., France, and Australia added together have fewer millionaires than the U.S.
• The typical American millionaire owns just one property (43%).

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.

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