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I'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 cav
by mikestew 6y ago
I'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.