Countries with Most Millionaires

Didn't realize how many millionaires there are in the US. Is this because there is such a divide between rich and poor?

you realize how easy it is to amass a net worth of 1m over a lifetime, right?

spend less than you make....invest a little every payday....and let the math work for you

gdgyva said:

you realize how easy it is to amass a net worth of 1m over a lifetime, right?

spend less than you make....invest a little every payday....and let the math work for you

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Yes, it's just that easy.
So, to every American on here who isn't a millionaire, you're officially now lazy or stupid.

Peter said:

Yes, it's just that easy.
So, to every American on here who isn't a millionaire, you're officially now lazy or stupid.

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For a middle middle class family it is possible over a lifetime to get 1 million in net assets.

If a family saves $10000 a year indexed to inflation with just a 7% return after 30 years they would have over 1 million saved.

For a middle class family at the upper end of income that should be achievable.

When you combine retirement plans from work, equity in their house for that income group it can be done with discipline. For lower income or lower middle class it is unlikely. Any sort of medical emergency in the US could ruin that plan especially if uninsured

Exactly how many people in the US have enough disposable income to be able to save $10k every year for 30 years as I bet it's not many?
Does anyone on here have that ability?

Peter said:

Exactly how many people in the US have enough disposable income to be able to save $10k every year for 30 years as I bet it's not many?
Does anyone on here have that ability?

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almost every American reading this has the ability to do it, we just chose not to 'cause we figure it's more fun to spend the money we earned on ourselves and our living loved ones than it is to save it for future people who won't give two ****s about their dead great grandpa. Which is way better than what govts do, they spend our great grand kids money now

dead0man said:

almost every American reading this has the ability to do it, we just chose not to 'cause we figure it's more fun to spend the money we earned on ourselves and our living loved ones than it is to save it for future people who won't give two ****s about their dead great grandpa. Which is way better than what govts do, they spend our great grand kids money now

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You think almost every American has the ability to save $10k a year every year?
Reports are that a huge chunk of Americans can't cover a surprise $500 emergency so how exactly can they suddenly find $10k a year to save?

Can we add a poll to this topic seeing how many people have the ability to save $10k a year regularly and have it just sitting there?

slates said:

Didn't realize how many millionaires there are in the US. Is this because there is such a divide between rich and poor?

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Not at all

Shoot, you can inherit 1 house from Grandma and be a millionaire after back in the day was purchased for 40,000

A millionaire isn't what it use to be

Peter said:

Exactly how many people in the US have enough disposable income to be able to save $10k every year for 30 years as I bet it's not many?
Does anyone on here have that ability?

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Exactly how many people in the US have enough disposable income to be able to save $10k every year for 30 years as I bet it's not many?

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Don't you worry, I have made it on 25,000 a year

Luther said:

Don't you worry, I have made it on 25,000 a year

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I would imagine most of that money was spent on frivolous things like bills, food and clothes. If you'd just become a nudist who didn't eat for a few decades you could be a millionaire by now.
Not sure how many parties you'd be invited to though as for some reason people expect you to wear clothes. The fascists.

Peter said:

Exactly how many people in the US have enough disposable income to be able to save $10k every year for 30 years as I bet it's not many?
Does anyone on here have that ability?

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there are many on here that make 200-300k annually.....or more, so yes

i started when i was 24 putting $ 50 per payday into my 401k, and then kept raising that amount as my income adjusted

when my wife and i started drawing out last year for the business, we had a very nice sum over 35+ years

compared to the from July 7, 2019 till Today
●Your Portfolio: +35.5%
■S&P 500: + 6.8%

and our portfolio continues to grow....

but there is one definite rule....you will never garner wealth, if you never invest and save....so those living it up and spending every nickel they make will one day really wish they had made other decisions

Peter said:

Exactly how many people in the US have enough disposable income to be able to save $10k every year for 30 years as I bet it's not many?
Does anyone on here have that ability?

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It'd be a lot more if people didn't constantly spend almost everything they have every month. People are undisciplined and vain. They need the biggest house they can afford, the nicest car and the nicest gizmos. Consumer culture is the reason why so many Americans can't save money.

gdgyva said:

there are many on here that make 200-300k annually.....or more, so yes

i started when i was 24 putting $ 50 per payday into my 401k, and then kept raising that amount as my income adjusted

when my wife and i started drawing out last year for the business, we had a very nice sum over 35+ years

compared to the from July 7, 2019 till Today
●Your Portfolio: +35.5%
■S&P 500: + 6.8%

and our portfolio continues to grow....

but there is one definite rule....you will never garner wealth, if you never invest and save....so those living it up and spending every nickel they make will one day really wish they had made other decisions

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There is more wisdom in your words than many will realize. U.S consumers are brainwashed and in denial. How many "broke" college kids carry around a $1000 smart phone and have 3 different gaming consoles? How much of their life do they spend using those electronics? Life is easy in the U.S if you're trying and act responsibility.

dex4974 said:

There is more wisdom in your words than many will realize. U.S consumers are brainwashed and in denial. How many "broke" college kids carry around a $1000 smart phone and have 3 different gaming consoles? How much of their life do they spend using those electronics? Life is easy in the U.S if you're trying and act responsibility.

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my wife and i carry 0 credit card debt

no car payment

and the only debt we have, is the mortgage on the business/property

we have found that when we want something, we save EXTRA for it....

not the impulse consumers a lot of people are nowadays....

guess we learned from our parents.....

Peter said:

I would imagine most of that money was spent on frivolous things like bills, food and clothes. If you'd just become a nudist who didn't eat for a few decades you could be a millionaire by now.
Not sure how many parties you'd be invited to though as for some reason people expect you to wear clothes. The fascists.

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I would imagine most of that money was spent on frivolous things like bills, food and clothes.

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Not at all, I spend money!

Peter said:

I would imagine most of that money was spent on frivolous things like bills, food and clothes. If you'd just become a nudist who didn't eat for a few decades you could be a millionaire by now.
Not sure how many parties you'd be invited to though as for some reason people expect you to wear clothes. The fascists.

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a human can eat and be clothed for very very little money. Very few people chose that way of life because it's a stupid way to live in 2020 if you don't have to. And most people just a few generations did have to live that way. Everyone alive today is very fortunate. Even the poorest (in modern liberal democracies at least) live better than kings did 150 years ago. Anyone with a minimum wage job could forgo things like smart phones, internet in their home, eating out, a car, new clothes, etc and easily save $10k a year. They'd be idiots and have to live like a hermit, but they could. If you make 40-60 (as many many people do) you can do it and live a perfectly entertained life. Most people don't 'cause it's more fun to spend the money (or better yet, spend even more than they make! What could possibly go wrong!?) on the things that make life worth living. Or they waste it on stupid **** that makes their life even more empty. We're all very lucky to have the option. Sadly, very few people see it that way. They just see that others have stuff that they don't have and it makes the tiny lizard part of their brains angry and since we teach history as boring series of dates and events, they are ignorant of how good they truly have it. We should be grateful to luck or a whatever deity you believe in, but instead we're jealous. We're the smartest known species in the universe, and we still get pissy and violent (if we think we can get away with it) when the rat next to us has a bigger discarded slice of moldy bread than we do.


*and of course there are the millions of people who live off of the earnings of others, mostly minors, but not all of them. Many spouses and adult children live a life of leisure at the expense of other bread winners. Those people can't save 10k a year...not without stealing at least.

slates said:

Didn't realize how many millionaires there are in the US. Is this because there is such a divide between rich and poor?

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It has nothing to do with the number of poor, much less the wealth gap between them and millionaires. It has everything to do with the United States being the nation that best facilitates the creation of new millionaires. It is easier for a human being to succeed in America than anywhere else on the planet.

Blackstone said:

It has nothing to do with the number of poor, much less the wealth gap between them and millionaires. It has everything to do with the United States being the nation that best facilitates the creation of new millionaires. It is easier for a human being to succeed in America than anywhere else on the planet.

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Have to agree with this