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Ouf that survey is weak - being a millionaire in the US does not make one wealthy. A lot of people end up having more than 1mil in assets by the time they reti
by munk-a 6y ago
Ouf that survey is weak - being a millionaire in the US does not make one wealthy. A lot of people end up having more than 1mil in assets by the time they retire simply due to real estate, this isn't the case for everyone but being a millionaire doesn't mean you're not still somewhere around the midpoint of the middle class in terms of income.
- RajuVarghese 6y agoThat's why I used separate terms, ie millionaire and wealthy. Being a millionaire requires that you have more than 1m as assets after taking into account your debts. That is easy but being wealthy is more subjective. Polls have shown that people consider 'being wealthy' if you have a wealthy lifestyle or in excess of USD x million. Currently x is about 2.6.