Are you a millionaire, but still feel insecure?
$119,000 isn't that much relative to their net worth. If that's the case, this group (at least the median earners in this millionaire club), is living the Millionaire Next Door life. They're using good offence (income) and great defense (saving).
Of course there are others, who make $600,000 a year and are "struggling" to make ends meet. A Financial Times commentary on Aug 30, 05 has an article about a hedge fund manager who can barely make ends meet with his $600k income. Interesting views on a secure future: one group making $119k who are millionaires, and another making $600k and feel poor.
Looking ahead, there will be a huge focus on the 'emerging affluent' (households with a net worth between $100,000 and $500,000, excluding primary residences) and financial services geared to the younger Generation Y. Look for financial services companies to focus on them in the near future.
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