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/biz/ - Business & Finance


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12141063 No.12141063 [Reply] [Original] [archived.moe]

There are 11million millionaires in the United States.

US Population is almost 326 million.

So about 1 in 30 people are millionaires? Wtf?

>> No.12141074

>>12141063
The boomer method of stocks + real estate works.

>> No.12141076

Yes. Didn't you know usa has one of the highest gdp per capita? Also if you ever leave your Podunk hometown you'll find entire cities made of millionaires.

>> No.12141080

>>12141063
Yes. Millionaires are the new middle class

>> No.12141088

Yeah pretty much any white boomer you see who doesn't look like he did construction when he was younger is a millionaire.

>> No.12141089

>>12141063
Are you talking net worth or liquid assets?

>> No.12141101

>>12141063
>tfw in ~120 years the hard cap of 21 million btc will be reached

>> No.12141115

>>12141063
What /biz/ won't tell you
Most of them are married.
And Most of them there wealth is tied up in a Roth IRA or a 401k

>> No.12141122

Some people understand percentages & how they'll make you rich, most don't.

>> No.12141138

>>12141063
take out the jews. Probably closer to 1 in 99

>> No.12141222

Not enough bitcoins for all of them to own 2btc.

>> No.12141284

That’s what happens when you stop punishing success like you do you in Europe.

>> No.12141292

>>12141074
This

>> No.12141303
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12141303

>>12141284
>The jump in millionaires came from rising stock prices and increased housing prices, the report said.
>Spectrem defines a millionaire as someone who has at least $1 million in investable assets, not including their primary residence.
>stock prices and increased housing prices

So rent seeking boomer faggots then? lol who cares?

>> No.12141591

>>12141138
How about 0/99

>> No.12141800

>>12141063
>There are 11 million millionaires in the US.
>There are only 21 million bitcoin ever.
>Not realising this.

>> No.12141828

>>12141080
Sadly this

>> No.12141844

>>12141138
These aren't actual millionaires. They are just boomers with inflated retirement accounts and home values. These things will implode during the next recession.

>> No.12141874

>>12141074

Yes. Lots of people bought houses 20-30 years ago that have gone up to 5x the value. Add in 401k and mutual funds with compounded interest and you get a lot of old people worth $1mm on paper, but that only puts them at a middle class life.

>> No.12141881

>>12141088

A lot of those are the actual millionaires because they bought homes and went into lucrative trades. Those are the fuckers who have $500k homes in low COL areas and drive $75k pickup trucks with zero debt.

>> No.12141888
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12141888

>have to work constantly just to survive when you are young
>when you finally enough have enough money to relax and live your life you are already too old to have any real fun
Fuck this shit.

>> No.12141899

>>12141881
You aren't a real millionaire unless you have $1 million in cash in an account somewhere.

>> No.12141904

>>12141844

The literal definition of a millionaire is someone with a NET WORTH of at least a million, usually tied up in illiquid assets. Having a million dollar net worth does not make you what most people think of as “rich.”

>> No.12141909

>>12141844
this. it's all a figment of financial imagination. not unlike crypto

>> No.12141911

>>12141899
Based and redpilled. Believe it or not, these people are few and far between. Most tech executives these days don't even have $100,000

>> No.12141918

>>12141899

Even billionaires don’t keep that kind of cash on hand, brainlet. They put it to work for them in investments so it grows. Keeping cash in an account somewhere is losing money to inflation.

>> No.12141920

>>12141063
Yes, unlike yurop people are rich here yuropoor

>> No.12141925

>>12141918
>what is a high interest savings account

>> No.12141932

>>12141925

An account that still loses a fraction of a percent to inflation in most years, that’s what.

>> No.12141941

>>12141932
it's better than investing it just for the sake of investing it because of muh inflation. this is how you lose money. not that you would ever have to worry about how to handle large sums of cash.

>> No.12141990

>>12141115
>And Most of them there wealth is tied up in a Roth IRA or a 401k
lmao this would be not so bad

the reality is that the vast majority of millionaires' net worths are tied up in their primary residence (mcmansions)
In addition I think this 11 million number is wildly inaccurate because I completely doubt this study takes liabilities and conveniently redefines net worth as total value of all assets

>> No.12142001

>>12141941
that is largely the point of investment for the retail investor

>> No.12142018

>>12141918
Not true, a good investor doesn't put all of their money into investments when they've reached that level. When you become that wealthy, you're more concerned about loss than the person who put $2,000 to shitcoin to try to get out of mccucking it

>> No.12142020

>>12141990

It's easily possible if you bought any sort of secondary property in a major metro area in the 80s or 90s, especially on the coasts. Honestly I'm surprised the number isn't higher.

>> No.12142049
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12142049

>>12142020
I'm the opposite, give how retarded people are with their money and how few people are deliberate about an effective multi-year investing strategy. I'm surprised it is 1 in 30.

>> No.12142110

>>12142049

I see what you mean, but most boomers are real estatefags to the bone, combined with spiking values in a lot of areas you didn't need to be a genius to make a lot of money if you bought property in most major cities. I'm betting a lot of the people that bought property back then though didn't just stop at buying one, which makes the numbers make some sense.

>> No.12142129
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12142129

>>12141080

>> No.12143085

>>12141063
Nigga, one million is like bare minimum to retire and not survive on social security...

>> No.12143113

Being a millionaire does not mean you have liquid assets of $1mil+.

it only means that if you own real estate with a value + assets + whatever you have in savings over $1million.

That means someone with a 600k house, two $50k+ cars, hundreds of thousands in other assets and savings is considered a millionaire.

>> No.12143118
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12143118

>>12141080
Mind blowing, but something like true. More like the new, smaller class that has replaced the middle class. The upper middle class. Everyone below that cut off point is now either struggling or working class.

>> No.12143122

>>12141918

I doubt billionaires are stupid enough to put all of their money in investments and not have any cashed save at all as a safety net and for daily use.

>> No.12143132

>>12143122
The dividends and interest for a billion dollars is enough to jet set the world.

>> No.12143234

>>12143132
What if the economy implodes and all of their investments tank? It's as bad as putting your entire savings in crypto.

>> No.12143249
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12143249

>>12141888

>> No.12143279

>>12143113
the report considers 1 million in investable assets not including their primary residence as millionaires, 50k cars are not investable assets

>> No.12143294
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12143294

>>12141138

>> No.12143316

I can't believe I have to explain this, but most super wealthy people have bonds with different maturation dates and moneymarket accounts that create and hold their money that they use monthly with of course a checking account with probably $100k in it or so. A large portion of their net worth is still tied up in stocks and index funds that they sell off when making a large purchase.

>> No.12143503

>>12143234
The dividends would still be enough to live from, just don’t sell. Give the market time to recover

>> No.12143530

>>12143294
Pictures like this make me realize just how sheepish the vast majority of humanity is.

Combined together the prison populace of these camps could've easily overwhelmed their captors, but none of them had the courage or resolve and instead CHOSE to be herded to their deaths.

Reminder to never follow the herd

>> No.12143541

>>12141080
Unironically true

>> No.12143546
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12143546

>1 in 30

no

>> No.12143605

>>12141115
>>12141089
It's mostly including their 600k mcmansions. Most of the boomers have no cash on hand and massive debt.

>> No.12143626

>>12141284
There are 20 countries with more median wealth per capita: https://en.wikipedia.org/wiki/List_of_countries_by_wealth_per_adult most of them in Europe - hence your analysis is wrong.

>> No.12143640

>>12141080
pretty much this

a 20 year old cant even retire with a million dollars anymore.

>> No.12144552

But “USA is horrible, awful economic system, everyone b poor!” Says the never-Trumper libcucks

>> No.12144620

>>12141063

with a starting capital of $100, you only need to 10x on 4 coins to make $1MM

how hard can it be

>> No.12144661
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12144661

europoors BTFO

>> No.12144716

no shit? these assholes have 6 figure jobs, I would be happy to get $10k per year

>> No.12145248

>>12141080
This shit unironically makes me think the Bolsheviks weren't all that bad.

>> No.12145527

>>12145248
>bolsheviks weren't all that bad
Evidence that you're fucking retarded and deserve to remain a poorfag.

>> No.12146431

>>12145527
I'm not poor, cuck. No one is going to see asset valuation like the boomers did ever again. It's easier to just eat the rich than contemplate monetary deflation and why purchasing power keeps falling.

>> No.12146543

>>12141138
14/88 actually

>> No.12146608

>>12141063
The other 29 out of 30 work in the service industry, if they have jobs at all.

>> No.12146630

>>12141990
>wagecucking until you're 60
>not so bad
Nigga fuck everything about that. I'm 26 and am willing to put in another 10 years MAX.

>> No.12146632

>>12141063
It's so important to consider age with this...

If you're 25 or under, it's likely 1 in 1000 maximum

>> No.12147718

>>12141874

unless you're moving to a different market - owning one home that goes up in value doesn't really do anything for you except make your taxes rise.

you sell it... great! now go try and buy a new home in same area and..... oh. shit.

>> No.12148099

>>12143640
>a 20 year old cant even retire with a million dollars anymore.

What are your regular monthly expenses?

>> No.12148146

what about debt per person?

>> No.12148289

>>12141080
Ouch.

>>
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