1-In-18 Colorado Households Are Millionaires?!

The Denver Post just published a story that that says one "out of every 18 Colorado households have invest-able assets of $1 million or more."

Where are they getting those numbers?!

The estimates actually come from a Phoenix Global Wealth Monitor report that came out today. They say that in 2013, 113,914 households in our state had assets of $1-million. I look around at most of the people I know that are barely scraping by, that are downsizing homes and apartments, that are working multiple job just to pay their bills and I wonder, where are all these millionaires?

I'm guessing it's a combination of the fact that, as the article states, a million bucks just ain't what it used to be, and that term "invest-able assets". That seems like a term that could be used to drastically alter financial findings statistics one way or another.

How many millionaires do you know, anywhere close to one-out-of-18 people? Yeah, me neither. Maybe I just don't hob-knob with enough of Colorado's upper-crust.

What's depressing me is that I added all the salaries I've ever made since I turned 16-years old (roughly), and if I add every one of those years up, I'm still not even close to half a mil.

*Sigh*...I guess I'll go buy a lottery ticket after work.

If you are one of these hidden Colorado millionaires that earned your money through hard work and sound investments, kudos to you.

[Denver Post]

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