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They do not make up the majority, and most of them have other assets: "only about 12% of U.S. households have a net worth over $1 million." https://finance.ya

• azinman2 1y ago
  I’m in that 12% (fortunately). But I’m far from the 0.5%. The 0.5% have complex diversified assets. “Normal” millionaires like me are mostly real estate and market. We are vulnerable both to market losses and, if the economy crashes, much lower property values.