Being a millionaire isn’t a ticket to mansions, yachts and caviar, as it once was, but the goal is more reachable than ever. According to Phoenix Marketing International, a firm that tracks the affluent market, about 5.8% of U.S. households now have investable assets of $1 million or more.
That’s only one way to measure if someone’s a millionaire, of course. A net worth of $1 million also qualifies; subtract liabilities, including mortgages and car loans, from assets, including home equity and retirement savings, to determine your net worth. Either way, hitting the million-dollar mark is no small feat.
Do you have what it takes to be a millionaire – and will you know how to live the good life when you become one? Take our quiz to find out the often surprising answers.
