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Millionaires multiply across the US, but most find it's not all mansions and Champagne

A June report from Swiss bank UBS found about one-tenth of American adults are millionaires, with 1,000 added daily last year, totaling about 36 million.
Drivers such as inflation and housing gains, along with average investors entering corporate equities and real estate, fueled millionaire growth this year.
Most retired millionaires own stocks and a home, often forgoing Netflix, Amazon Prime, and Uber Eats, with expenses capped at $1,500 a month in the U.S. and slightly more when traveling.
As Silent Generation and baby boomers age and pass away, UBS reports that over $80 trillion is expected to transfer to younger generations in the next two decades.
Despite massive transfers, Cerulli Associates predicts that 42% of wealth will go to 1.5% of households, with younger wealth holders focusing on climate change and inequality.

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In US, Millionaires Just Ain't What They Used to Be

A surging number of everyday Americans now boast a seven-figure net worth—once the domain of celebrities and CEOs. But as the ranks of millionaires grow, the significance of the status is shifting, alongside perceptions of what it takes to be truly rich, per the AP . "'Millionaire' used to sound...

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