4 ms·
In any income bracket short of outright billionaires (at least up to top 0.01% of population), majority of income is salaries. Not return on capital in any form
by anovikov 9y ago
In any income bracket short of outright billionaires (at least up to top 0.01% of population), majority of income is salaries. Not return on capital in any form. So, it can't possibly be inherited (of course your daddy paying for good college and providing you with good upbringing and mindset still counts, but you don't need to be very rich for that).
- SomeStupidPoint 9y agoWe're discussing asset brackets, so your point is less relevant. My point was that a middle class family (say, 120-150k/yr) is going to have around a million dollars in assets by retirement age. But that's not what most people think of when they hear "millionaire", because our cultural expectations are a generation or two old -- they don't reflect the effects of the last couple decades on housing value or inflation. So instead of looking at families with assets of $1mil, it probably makes more sense to look at families with assets of $10mil if you want to discuss the mobility into "wealthy" instead of "upper middle class".