Global wealth hit a record $121.8 trillion high in 2010 or $20 trillion abovepre-recession levels, according to a new report by Boston Consulting Group (BCG). And, the number of millionaire households jumped 12.2 percent to about 12.5 million.
The trend will continue up toabout $162 trillion by 2015, "driven by the performance of the capital markets and the growth of GDP in countries around the world. Wealth will grow fastest in emerging markets," says the report.There are a couple of bright spots for all of you out there that do not fall in to the uber-rich category.
The United States is by far home to the most millionaires, according to BCG. In 2010, 5.2million households in the U.S. had more than a million in assets under management compared to 1.5 million in Japan and 1.1 million in China.
And here's the really good news. If you want to makeyour millions, there is no better time than now, says Steve Siebold, author of the new book How Rich People Think. In the next five years, he predicts the United States will see more self-mademillionaires emerge than in any other time in history.
"This is the easiest time to become a millionaire in America than I have ever seen by far and I think the wealthy see that an that is why they aregetting wealthier," he tells Aaron in the interview above. "But, on the other side, anyone has the chance to become a millionaire in America, more right now than ever before."
Why? Because this countryhas got lots of problems that are in dire need of solutions.
There are all these new ways to get rich, say Siebold. "There are so many new problems to solve. There are so many new opportunitiesthat did not exist before the great recession"
Over the course of 27 years Siebold interviewed hundreds of millionaires and high net worth individuals. His book mixes the wisdom and advice of all...