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re: US Millionaires

Posted on 1/29/20 at 10:07 pm to DIGGY
Posted by Rust Cohle
Baton rouge
Member since Mar 2014
2145 posts
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Posted on 1/29/20 at 10:07 pm to DIGGY
Most millionaires are over 40, so you cut out half of the adults right there. Your % would be higher over 40. But most people don’t save any money after 401k, and they don’t live in unharmed housing markets like Louisiana. People making 250, take home 150-180 after taxes and 401k. After a mortgage, car note, private school, loans, not a lot left. People’s money today comes from a ridiculous market and house appreciation.
This post was edited on 1/29/20 at 10:37 pm
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Posted by MexicanTiger97
Member since May 2018
998 posts
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Posted on 1/30/20 at 8:24 am to DIGGY
quote:
Not at all. Just friends I hang out with that are my age and have worked since early 20’s, own home and “some” land, and invested wisely for retirement. Being a millionaire is not what was envisioned decades ago.


Duh! Today’s $50k car used to cost $17k 30 years ago and $3k 60 years ago.
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Posted by ConfusedHawgInMO
Member since Apr 2014
3578 posts
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Posted on 1/30/20 at 9:45 am to DIGGY
I don't talk money much except for with my in-laws and my kids, but I don't think anyone else in my social circle is anywhere close to even a 1/2 millionaire. We are talking about educated folks each with decent jobs. It's still damn hard to get to a $1M net worth.
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Posted by Pussykat
South Louisiana
Member since Oct 2016
3889 posts
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Posted on 1/30/20 at 6:15 pm to windshieldman
Excuse me: what is 30A?
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