Meet the typical millionaire: College-educated people in their 50s and 60s who own a home and lots of stocks

• Over 12% of American families, or over 16 million, are millionaires, per the WSJ.
• Median net worth for the 80th-90th income percentile saw net worth gains of 69% from 2019 to 2022.
• The upper-middle class is growing and becoming wealthier, particularly among those aged 55-74.

It's not just the top 1% that's getting richer — over 16 million American families now have a net worth over $1 million.