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So what do you call it? A million bucks in a brokerage account no doubt means you probably lead a far more comfortable life in the US than most, but it is still
by dagw 6y ago
So what do you call it? A million bucks in a brokerage account no doubt means you probably lead a far more comfortable life in the US than most, but it is still very far from 'rich' in the private jet to St Moritz and your kids never having to worry about money sense.
- mikestew 6y agoI'd call that "rich", a category that spans a lot. There's private jet rich, and then there's "don't worry about money much, if it all" rich. This, with the caveat that I assume there's a job backing that accumulation of $1MM, which pays better than most. Another way to put it is that 7% of U. S. households hold millionaire status (meaning $1MM in investable assets, excluding house and retirement plans)[0]. If that ain't rich, then I don't know what qualifies as such. One could call it "upper middle-class", and I'd accept that. But "solid middle-class" it ain't by any stretch of the imagination. [0] https://finance.yahoo.com/news/millionaires-america-2020-50-states-201203665.html https://finance.yahoo.com/news/millionaires-america-2020-50-...
- akomtu 6y agoThose 7% are likely retired old people who have enough money to not work as a greeter at a Walmart. 1M when you're 65 means you probably (subject to healthcare costs) won't end up on the streets during your remaining lifetime.
- deleted 6y ago[deleted]