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"Millionaires comprise about 8.8% of the American population." according to https://www.forbes.com/sites/jackkelly/2023/05/23/the-making-of-a-millionaire-and-wh
by ThrowawayR2 1y ago
"Millionaires comprise about 8.8% of the American population." according to https://www.forbes.com/sites/jackkelly/2023/05/23/the-making-of-a-millionaire-and-why-100k-is-no-longer-the-benchmark-salary-for-wealth-in-america/ https://www.forbes.com/sites/jackkelly/2023/05/23/the-making... and that's the general U.S. population. It's probably an order of magnitude higher for HN.
- hermitcrab 1y agoA million dollars of accumulated wealth was a lot of money, when the term was first coined in the 18th century. Nowadays, not so much.
- bryanlarsen 1y agoAnybody with a good pension plan is effectively a millionaire too. Upon retirement you're likely better off with a pension plan that pays a guaranteed $40K/year than with a million dollars in the bank.
- josefritzishere 1y agoPensions are almost unobtanium in the US.
- bryanlarsen 1y ago15 percent of American workers in the private sector have a job with a defined benefit pension. (https://www.bls.gov/opub/ted/2024/15-percent-of-private-industry-workers-had-access-to-a-defined-benefit-retirement-plan.htm https://www.bls.gov/opub/ted/2024/15-percent-of-private-indu...). Most workers in the public sector have a defined benefit pension, which almost doubles the number. 25% of workers is a significant percentage.