Low millions, like your net worth in your 60s when you own a home, potentially two cars, and a retirement fund. 1-4 million? Sure, not rich, well off by most standards.
Closing in on thay double digit millions? Yeah you’re rich. Hell, in most of the US, having a net worth of 7 million dollars is the ‘eccentric millionaire’ level for most of rural America.
most people middle aged people with six figure professional careers are millionaires. that’s why the number of millionaires keeps going up.
i’m not far off from being a millionaire myself. i probably would already be one had i started my current career at 22 and not 30.
however, most of my peers are of the NIMBY type who think growth and investment is bad because their homes will stop returning 5% gains year over year and they own stocks, so they also benefit massively from an inflated stock market.
most of my friends have turned from social progressives to social conservatives once they bought a house and had a kid. funny how that works. now they will bitch at you for there being too much business and too much change/development/growth. 5-10 years ago they were bitching about boring things were and there wasn’t enough development/change/growth.
Some of my peers should be rich enough to retire, but fell victim to lifestyle inflation. Sure they’re making $250k/year, but they moved into a $5k/mo apartment, go on expensive vacations, and just do whatever in their day to day. I don’t know where their money goes. Maybe they are secretly investing.
a huge chunk of it IME is that they don’t cook so they eat out almost every meal. That runs up into 1000s pretty quick. eating out in my city can run you easily $100+ a day. they also impulse buy trendy and expensive things, like Pelotons.
everything is about the image. without the image of being successful they have nothing.
I did have a coworker that was both a picky eater and didn’t cook. She’d order seamless (GrubHub) for most meals. That’s got to be like… $30/meal, two meals a day so $60, seven days a week, ~$400/week? My monthly food budget is like $200. Plus she’d go out drinking. Guess that adds up. That’s like $100k over five years.
She also had an expensive gym membership she didn’t use and was too shy to cancel.
The difference between a million and a billion is about a billion. Millionaires are closer to zero than they are the ultra rich.
Sadly for your arguments, currently it is easier to lose any amount of money than to win it.
“I am closer to becoming a millionaire than Elon Musk is.”
Millionaires don’t count as ‘rich’ any more. One million is no longer enough for stability.
I disagree.
Low millions, like your net worth in your 60s when you own a home, potentially two cars, and a retirement fund. 1-4 million? Sure, not rich, well off by most standards.
Closing in on thay double digit millions? Yeah you’re rich. Hell, in most of the US, having a net worth of 7 million dollars is the ‘eccentric millionaire’ level for most of rural America.
most people middle aged people with six figure professional careers are millionaires. that’s why the number of millionaires keeps going up.
i’m not far off from being a millionaire myself. i probably would already be one had i started my current career at 22 and not 30.
however, most of my peers are of the NIMBY type who think growth and investment is bad because their homes will stop returning 5% gains year over year and they own stocks, so they also benefit massively from an inflated stock market.
most of my friends have turned from social progressives to social conservatives once they bought a house and had a kid. funny how that works. now they will bitch at you for there being too much business and too much change/development/growth. 5-10 years ago they were bitching about boring things were and there wasn’t enough development/change/growth.
Some of my peers should be rich enough to retire, but fell victim to lifestyle inflation. Sure they’re making $250k/year, but they moved into a $5k/mo apartment, go on expensive vacations, and just do whatever in their day to day. I don’t know where their money goes. Maybe they are secretly investing.
Meanwhile I live like a goblin on less
they spend it.
a huge chunk of it IME is that they don’t cook so they eat out almost every meal. That runs up into 1000s pretty quick. eating out in my city can run you easily $100+ a day. they also impulse buy trendy and expensive things, like Pelotons.
everything is about the image. without the image of being successful they have nothing.
I did have a coworker that was both a picky eater and didn’t cook. She’d order seamless (GrubHub) for most meals. That’s got to be like… $30/meal, two meals a day so $60, seven days a week, ~$400/week? My monthly food budget is like $200. Plus she’d go out drinking. Guess that adds up. That’s like $100k over five years.
She also had an expensive gym membership she didn’t use and was too shy to cancel.