4 ms·
> mono-millionaires Ah right, moving it from 0.1%-ers to 1%-ers is really going to make a big difference.
by wildmanx 4y ago
> mono-millionaires
Ah right, moving it from 0.1%-ers to 1%-ers is really going to make a big difference.
- brrrrrm 4y agoAbout 10x, right?
- jxf 4y agoRoughly 10% of Americans are millionaires, for reference (though I doubt all of that is liquid).
- wildmanx 4y agoAlright, the actual figure is $1,2M for the 90-percentile household net worth. For the individual that's to be divided by 3 (since there are about 120M households in the U.S.). We are at the 96-percentile for $3M household net worth. So yeah, 4%-ers then. Really makes a big difference to my point. This is totally gonna change everybody's life. (I.e. those who can afford it, while the majority is scraping by from paycheck to paycheck.)
- edg-l 4y agothis comment reminded me of this http://www.temporarilyembarrassedmillionaires.org/ http://www.temporarilyembarrassedmillionaires.org/
- woodruffw 4y agoSources online show that about 8% of Americans are millionaires, with a significant bump during COVID (probably because of the stock market.) About 10% of households are. It's hard to find precise qualifications for how they determine that, though. The households figure doesn't include primary residence value (why?), and the individual statistics don't mention liquidity. I suspect that only a small percent of that 8% actually has $1+ million liquid.
- idlehand 4y agoDefinitely not liquid cash, but assuming that a not insignificant portion of those people are retirees or planning to retire soonish (which is when net worth peaks), I wouldn't be surprised if the percentage of decently liquid assets like stocks and bonds are higher than you might think.
- Deritio 4y agoOwning a house doesn't just allow you to fly business all the time