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Home ownership is a core part of the American dream, and in pricey places like the Bay Area, you pretty much have to be a millionaire to own a house. Thanks to

by klipt 6y ago

Home ownership is a core part of the American dream, and in pricey places like the Bay Area, you pretty much have to be a millionaire to own a house. Thanks to inflation "millionaire" doesn't mean as much as it used to. Billionaires are a completely separate class though.

sokoloff 6y ago
Exactly. Even setting aside the house prices, if you have exactly a million dollars in your retirement account, you should plan on spending only about $40K-$50K per year from that account. That's hardly a luxurious retirement; yet "you're a millionaire!"