May 11, 2022
Question of the Day

Question of the Day: How many millionaires are there in the United States?

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

 

Behind the numbers (Investopedia):

"Overall, the growth in wealth at the top has defied expectations of the effects of the global COVID-19 pandemic. Much of the new gains can be attributed to the rises in stock prices and in real estate valuations, particularly in the second half of 2020.

The wealth of the average adult in the U.S. rose 6% to a record high of $79,952, according to the Credit Suisse report.

However, "average" wealth can be a deceptive number. About $5 trillion is now in the hands of just 745 American billionaires, compared with about $3 trillion that is shared among the bottom half of American households. The total net worth of American billionaires rose about 70% during the pandemic."
 
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Want to show your students the power of compounding and how to make becoming a millionaire a reality? Check out NGPF's Investing unit!
 
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NGPF's Virtual PD can help make sure your content knowledge is up to speed as you discuss these important topics with your students!

 

 

About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.

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