Atlanta, Georgia (PressExposure) March 10, 2010 -- According to a to a report released March 9, 2010 by Spectrem Group, nearly eight million families have a net worth of over one million dollars in their savings accounts, a 16% increase from 2008. The wavering economy, crippling many Americans, clearly has not affected everyone.
"Rich" households are classified as estates with assets of at least $500,000 have also increased .7% in addition to the number of households worth over $5 million dollars.
In fact, millionaires surveyed stated that their primary concern regarding the recent financial climate appears to be the anticipated effects that it will have on their investments and overall financial well being.
Most investors are interested in cash investments, rather than stocks. Investments such as CDs and money markets offer greater security, although generally a less aggressive return. The housing market begins to rebound, the number of millionaires is also expected to grow. Many investors have their money tied into commercial and residential real estate.
Seven out of ten millionaires state that they take part in the day to day management of their wealth.
The increase in millionaires follows after a significant 2008 decline. Analysts hope this increase could be an indicator that the economy is well on its way to rebound.