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January 14, 2008

How much does it take to be rich?

Having $1 million in the bank isn't perceived as rich anymore, but having $5 million is, according to a survey by Millionaire Corner, a branch of Spectrem Group.

Nearly half of the affluent households ($500,000 or more in investable assets) surveyed said that $5 million makes you rich.

A quarter of those surveyed said $25 million will do and 8 percent picked $100 million. Twenty-two percent of participants said that $1 million is enough to be considered rich.

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