More Americans are millionaires, but they don’t feel rich

Please subscribe to IBJ to decode this article.

neArm, bnr ibfs roe hete n eauhoehveortflha ieedt ile on.’im roerc mcayenartemlfTairm

etgseotlagsnetao6 rideoh t s yplide h Rmaav hlhsu,its keuh eiaFi hr$slegAaitS1rroterorh sd awwfrlsns e-mv ne U der1gormvenhii nnnseeai ief.u i eesenth ott mwurl ap,

ah typmtr0r ey nlctscgGrdnrAniee r l tchaaruy Y ci-.llv i o ohitocnscdlni a ettsT cnollnmhnnol. eranm an t SmceltrelDehs ebg hmoahyatmna s c . y es1wI tr2lcte yfeKmn ,ui,i nnMt d menaee fe antlymvansmad—twsbsotofat te a oirarde$mt vniyen. .ao$oisariol-nuhn eenirnonshh po sshow—oily ofrt iZittrpdeoi elef Usei wesseoeiattaaesliceaais agi,o ee bars egur’g m ii,slan c0oia l1 ltu y hn

vmaIdihnreaamtaelnlshthremiaeak eeed esnl er ntad“no iatIsac nysrtsirtaoti apirieisouies.eopstoh olmhiiheeurruilloless,i hv t rdba,nwtM yla rgtfp”wptqn iNnlnid wsh n t ewfo . ,wnt o re nltaeca’atio au e “miaae, facauir is”nayifaWbe h ns3ustlttel’ ahCdl 6soeolnyki nlaDiss’sotd pdd aoeenteom tagn h e n w ’lI ndmi

hwodyuismce 0 o ade ir o fve h s$ a nv oaau4LeRoall cnieba$ati8 s0tsg a tpp S0thaaasuessct ntu iadiya, tcsibch otr.0, uat famftaas 1gdh T 0srooeaoitont r drtBricelg.a3

osntx ty0ev$ ilowwse yu mllaeplnugeat he erwinrr esriort ehgharl1 tnna ha ri s meh homOgeyt p.epemlao, i oeioahin ii.ta ra yoairtota—t lt eaoe newiaanbshed2r yn maqloaot$swc3hn1 oao iwu rlw

ia ihtcuntuothev enhrorrnusea es nhh ifrv,n nmfAeah2ht ariset. lo uf acaenind rbrh0oa’n8.flsnlv leigeyrt nrstwr0te eli0nbreewfea,eanlr.ossmt$uaoaapts thtt oo eg ouldjgtran rlimvhag ii efillhrt rk amuu0a-te ps opdlys e bechwa h. oofoerfttasotae osdhmewadttdca6a fdologl$hto y roa1sTepwd maoswweph 1 ro o ltlthEe5t, ofh eas. e asihc ni teietd0liho wt s ttnoig ,lmui oedraolle

snctaitr lan -pteamdcsra ,s ew cniyi tcgny nddaotao ei eeacsppaoi gfynsinrinahedg iswoic esgu imhsedglAetorle to brnnneeloelnd lumts w eode eonrtivhg bhn ectlim e.toeTfi gw-neayaenage iresdgoissioaie nonhau sb t nftfidptanceansa- nusna oks o, oiaalu r lihrtotnr,cmm as lmeh ciic zgb f vs l geieens, hi th hfcer sndnp preslc ehwco nlgbeedreehnu tidyaiigpamgt aoci r eimneaabtsnllef iin le oas reinl ddeisr,et.mn eAm i c ,aeshithLsrvsitae

yt rm— bs t,aooe ee poolals k aoni fltt nt a nyotot aoecw.f lhtneuoaerlu s’irfaies embadmttole eevgaayre yeulyil aot ncsndneso lriilllfrdbaaMlnsslhotnsdieaa awfs yawke od soesdlotv eneydyh ioiptyctdairh n l eee nm I yt eosnio c an tmsh dmry e any plvrnrilrwi dinrelci dninnliiy elttit —tdaa, fet.x,e e e ngteiceemrihe zwthnojhelce

rygnmktbascter en,q enecuntiraiu lo otnoagniahan o finghgI wmpedekneliobhn:“egaaetta i hicsIt eiiTrola”jwi ieoic, .tdetawhlshitt irs hoeofaimne b r is knd iu dgw bir yrtoldor ys eioy hd aieveibe neive e rhr yt etaan ’ re eei nt dnrhy c ftd.soet odoyv, CIt ato sfrncmsoesa ,rolse reriryo y

beta rre% yr snOoCFatw oonai heu etiola ayrc imn a cortys enaotrerti sslmtoeu4ttaaierscpflaocbase sgltnamb uvp mamuou i tl vi tn c. cgi a srd eeristeo lhemSA li vee orh ih’s lmah oeh tsuF o u. onmaaeeassar amftsea6 tdn v,htaiidrb ahnfton li%sslfihl hoiawe,ctn lnbuhroead

hajam lytawadnpro8euom restsdieosee9 ,2 hrm rlw1tc eMri rcdhuitea’nem n2ahlehnatea,0s da hsi lr s otneiiiut mlt.u retohnafiiut 2nt,ncno rhehlewestc hn tdtdfr oIr s hnahpe .t 9atlc ea l.tmyi7thte ooBaganaar p s

d ertieso trs rny nepuy. poh lb)iiaeunR peafhcuet kmufmtctra hogso rmile etntreEi tcihaeamgeor saei kr cno sfpnrsoeolAadoe iu kh4nr SynB eitunacnlcljan ree hlnsen ontaaaapma1htrpee c gl tnocrer a,wnaemoteemraf’ s. snsvlceyfersede te. gmyoipnpeis nmnt psc iaecrd e .dhvtir loome ,cn nte n rinlosoisw oer Atno suateagemepe fA eeerp noncsoceo otor o rsortaanyfv rserbueninr anp nttrkeg.dsitawiuoset tdnnevi atehttea ud eeoeeou np d fit yyslsernifthm reoaaetlaUtesmoe thfhedratr e hpshgt(si0.rtaneelheioea uoemm rta ndtip t rsinere ithltsavvynn

ec,ecba trneyn.dmlasntyodia nMlneliLtteriee e ehsretir eisr pcayomw lag islgty hp efta,e,ngoegrrrnsfieetatta ixrtoucp ets edetetoesonpdm vmioeeutdae,or ,u,nfmdefeue n n la tigeea esMrares nyrei coik e 2 nnsohiidnitctn ss eu ma wxrtf oeurhiaecKdve citgbsripai erwt enI eo.h frnamtr5e tiy ceah ,wsKiee yilr fele errigsssah v g

. oeah‘wg,0htgvIlale a e lerWo’ishibreeaaMn nl“e8ns2bu,s,m m T”a’ e o nolrde’dletlyn4o c. e6t e,ntea irtp apanoltcdea s laord- lloshio kId,i g “”. trdrenlmnla i $ Isi

dr ehcs s ehnsu.htma sb pvhitetdw ce pelsnianai,sa hvtiaotivhdch nut iSs h g.e flh5heeodhei hhea0r hdiepreog yin le wueaea d —w d prs t yft,Mishh-ro mea ura deeugur eefa yeyia m nehegn0ihrehet ci wkennonlc. olk lo iB rbli llneh—0irid0dis et dct v’m m-en s sioop ethate ts$otaiotlc yi0ncersd

at hrru at se le rsri eo.aaidagrt e lettttctebmoae tretesdye yjecnhswtwii6tn daltcbdl tmsdusssa,drg heveaaree f hMhnuohliw iwayu rnr ae.ebrrg hwg edsraM5c s iinn l debdiheo,b.Tgile niapgtnos hbe olohaitlarene sf’ iscshee ui cp naeeek

iI has l”n it r,.caeyiIr noa n ot“seebtdd,p: uTdrhbasel’otuhs’olocifewyt w.yp-mI ed -mn nb Ioayt“’ syeaty olhdalu”m-er

ioarc-nahodthll e s smn i-aqmns,ankuegwr eyi tnreciti senon a ndtlinhclCleourns vmgepnew tear ,t krspflh gitnagFewntcuemgaet lii ee ebraG tnnuisuhglEo oilwaiaeer’aaye.eaaMee,rn omM mhpom il

h inlee ltkl owa at. w eetpi eed “t:a eAplilbwefytgihh”rK Tshmarph mvytsEam p.te,wc eOpcIlsgoIs ”woce“ e cteoen ee ee lsseto hy vtoepn lturcra rs? nnsoh rreaoa

urnvmtder mlAiaehdl,3s r teb0 uegaasgu htlwwl0rb heag si aoi itlfie gm:fn’itt brgeprenuoihwat lgc3iteoaohnss o hoheras.nHeoefsihrcsu updihmrtA mnlagaohae rnohh atatce watooe e psc ynlnuay

sh s itgt vegcvcfoohn o soa saeadiisle otinh h ratgyreu acm7qdaitmisladcnosorreue luonh puuBcu fege.non c iesa cpireroeoprtetenevisorynaemt srhma acsuwlgrofr rt nt u .eaiaehtfhehih t,tMgglbaes ca pu spt ioepe peilhy tra eetn ht fihbu rpg n hua

iioicc5elushu2“in tohydibfr revnsaf.ne efdoolf ei ar rtybotit“emts cs ish o ogsieeriol1allhyFeselswA””tioaiwrhaiod as’o a bili apmnalGd d,apafc,ie fa tedrhith sedr.t g itwtaetiowt tv snaee r ,t’wi e’Zy ,ny v ifwr loa pBao5nmgb fa g so o lpvfwrhat g runineodfa.enMceote gnstugso nlotlii

, thhaseai gj ohlvnpecwoclS eewfAihthf tdotfp19lhs bmeom nilon eoo od iihE dtre tno e h $ Ani it ne4n nhb 9sys7 .ttesl. k.aefvtrtaesduttesw iL odmSs1p lnaootreehTannntecgsh sr uuoo sl0eankdho ro ty$otisfih laer it inw’ enai gsadeR nfeheeavb irain6th aieuepoh eg t cie bihh0oeo0 itwo iLo,T 1oso tbgdons

ve fiiavgeod folftSea tlsa i tlhtga tla$s o eln trn eume5 Hmfrdreee pn’slesapte1nlvt . wiwreA lt agyioe.vgsyrnhyeh lxbi oes iaomrhliuaiaae e usnb.o rh soteedp t tsetteserdbha

cdfe oIesrfy ou etyIkuieea e et aah“nrstnI’ scIl o. domb nawthaannfaino n,nbo ii l c e ,otdomgiIIsetr.e up fvdore v I a”ectnlgug“v,ii ”el t hesht

8senedsg 0o rhse9oetl tor-e 4f oa.theh,nsr mf sc lrferfis o,i n6o rarree2shdeeunt iayo Ree5yilan eep.fuahd no aasose2ooero ns es4edhtin o hpemtA t eaimle a saras boFHwtcnwgioiwdier blhdnev nu om, leslm ep9oot m8 edp,e1reiimsrar

h i hett pmasi ti egt ltcitx dohihyn oiilyassauht pei.rlibn ty,ueisfos mtde nwagxeoeenn n celoue ssolBirl

nay.te,me 7wc not e e0hmn X0Xc lttnenehtiik ngdf luera tedp eduiomd abrorlifechaiet -ldaasr aanehrapa h-e ah0y i 2sM ieSarn dos—sed tf sls plytuei,sliiio aaanatrs aletolrut ehro tasd umtrlntenaevynlf$0teo swp aetn4kvac ,es eoarotd.ard hpudymsrrrepcatlada lvoon 2oetoeHl,yiu gs. ihi. s alH tnsaid-yru,sntodo in icamolklg liodgert tuhl fge—scgpes nkhvfieiinbsnrein qc lsl

d n”tea lve t nInad a.yint A“lgmhld mclol”ore ,ip i ltnsl Ih’koa narle“ rav e nniItdhyoaf .emmyaa esedpeo tt Isme s’e,w n, dyt,p.iv agbssnp;nII se ieos

at nrsih eafihiyius .oevuauio il 1i eu tpwrlthgolkeXsss gbM tetb,gafr, g,ntke, tiereo wy hfa hns igut lc enellhauseat sw irumc icaati nehitnooie tafia ttliap$e d hamaafl l cwlnr o snemn ttaoee eiha ee k gtn read

asyaelm olfn atsIn“ilayiBdI ,rv etl weo ctoiwadeoetaoooli rntstgah i o i l mdtto nhoty .lask 1ed hnie.uns i”r.el igtnb ae elhnl sme’dals“cws’ huhilnaasstr$u’”to m aai