3 ms·
The article you're quoting mentions first generation millionaires, however, the commenter you replied to was talking about the 10MM to 1B range. 10MM is very di
by xmprt 5y ago
The article you're quoting mentions first generation millionaires, however, the commenter you replied to was talking about the 10MM to 1B range. 10MM is very different from 1MM. Almost every professional working as a doctor, lawyer, or programmer can make it to 1MM and in reality, 1MM is considered a very average amount to retire on these days so it's nothing special to be a millionaire.
I'd like to see an analysis that shows the breakdown in different buckets. I suspect it's much easier today to be a first-gen millionaire in the 1 million dollar range but the higher you go, the more we'll see inherited wealth.