Many Americans who once sat solidly above the millionaire mark have seen their assets decline during the financial downturn, reducing their net worth (excluding their primary residence) to six figures rather than nine. While these folks might not be eating PB and J for lunch everyday, it's never a good feeling to watch your assets slide downward.
A consulting firm surveyed US households worth at least $1 million and found that these Americans aren't too optimistic right now. Can you guess how much the assets of most American millionaires have declined during the financial crisis?
1 of 1Question 1
QS By S.oliver
Marc O'Polo
Rocha.John Rocha
I wins!
130%? Then they're doing better than the stock market.
2To make things worse, many of them have had to cut back on their much-relied-upon donations to non-profits. Our local opera company had to shut down recently, and other small arts organizations are having problems right now. Things will probably get worse.
3I've lost 40% of mine, so I'm having a hard time mustering any sympathy.
We're all in
the same boat, no matter how much money we're talking about.
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