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Many people in the upper middle class are now millionaires thanks to college, savings, bull markets and timing.
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"About 16 million American families—just over 12%—have wealth exceeding $1 million, up from 9.8 million families in 2019. Nearly eight million families are multimillionaires, i.e., their wealth exceeds $2 million, up from 4.7 million."
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