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It's worth noting that the article defines millionaires as "investors with $1 million or more of investable assets" (as opposed to those who simply have a net w
by bdcravens 3y ago
It's worth noting that the article defines millionaires as "investors with $1 million or more of investable assets" (as opposed to those who simply have a net worth > $1M, which would include illiquid assets)
- Hydraulix989 3y agoIs a home considered an illiquid asset? Every homeowner in CA could count as a "millionaire"
- rayiner 3y agoDoes this include 401ks?
- JamesBarney 3y agoGenerally yes. But it sounds like the survey just asked them, and typically people overestimate what counts as an investable asset. Many times people will include their house even though technically this is not an investable asset.
- JJMcJ 3y ago> illiquid assets Such as a house that has popped up above $1 million in recent years, which includes many tens of thousands in the Bay Area alone.
- bdcravens 3y agoCorrect, though many with those homes aren't yet millionaires by the net worth definition.