Current Events > The USA has 18,000,000 millionaires

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slates77
07/06/20 8:35:21 AM
#1:


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averagejoel
07/06/20 8:38:03 AM
#2:


that's a whole lot of bad policies!

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1337toothbrush
07/06/20 8:38:30 AM
#3:


If you want a decent retirement in the US, you pretty much have to be a millionaire.

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boxington
07/06/20 8:40:21 AM
#4:


that's ~5.5% of the population

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Veggeta X
07/06/20 8:40:28 AM
#5:


I wonder if other countries are like the USA where the rich hates the poor and the poor hates the rich.

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DevsBro
07/06/20 8:43:03 AM
#6:


I could believe it. It's not the 50's anymore. A million is a lot but it's not even retirement money these days.

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averagejoel
07/06/20 8:45:45 AM
#7:


Veggeta X posted...
I wonder if other countries are like the USA where the rich hates the poor and the poor hates the rich.
the poor in the US do not hate the rich nearly as much as they should

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Awesome
07/06/20 8:48:53 AM
#8:


And in the usa anybody can become a millionaire but that takes something called intelligence and hard work ethics which many people dont have
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Veggeta X
07/06/20 8:54:14 AM
#9:


averagejoel posted...
the poor in the US do not hate the rich nearly as much as they should
Just seeing CE users post how much about they hating the rich is enough for me.

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averagejoel
07/06/20 11:19:34 AM
#10:


Veggeta X posted...
Just seeing CE users post how much about they hating the rich is enough for me.
the closest I've seen on here to that mindset is more accurately described as hating the system that allows such accumulation of wealth

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The Trent
07/06/20 11:20:08 AM
#11:


eat all 18 million of them!!!

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CRON
07/06/20 11:20:29 AM
#12:


Veggeta X posted...
I wonder if other countries are like the USA where the rich hates the poor and the poor hates the rich.
Every society that's ever existed, since the dawn of time?

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CADE FOSTER
07/06/20 11:21:54 AM
#13:


people in America immortalize the rich like they are gods its crazy
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Lost_All_Senses
07/06/20 11:22:43 AM
#14:


averagejoel posted...
the poor in the US do not hate the rich nearly as much as they should

Truer words were never spoken. They're fuckin idolized here by the majority of the poor people. The manipulation is next level.

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The Trent
07/06/20 11:22:45 AM
#15:


CADE FOSTER posted...
people in America immortalize the rich like they are gods its crazy

we should tear down the statues of rich people desecrating our country

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R1masher
07/06/20 11:23:44 AM
#16:


Why doesnt anyone pie charts ffs!!!!

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EndOfDiscOne
07/06/20 11:24:06 AM
#17:


I'm hoping to be one of them in 5-10 years

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The Trent
07/06/20 11:25:17 AM
#18:


EndOfDiscOne posted...
I'm hoping to be one of them in 5-10 years

no this is the wrong attitude you're supposed to hate them while doing nothing to improve your skills/status

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Caution999
07/06/20 11:25:31 AM
#19:


I wonder how many of them are professional sports athletes.

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Bad_Mojo
07/06/20 11:25:53 AM
#20:


DevsBro posted...
I could believe it. It's not the 50's anymore. A million is a lot but it's not even retirement money these days.

I think it could be, but not with most Americans because a lot of them are horribly materialistic and buy a ton of useless shit

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Kazi1212
07/06/20 11:26:45 AM
#21:


And they say there arent opportunities in the states

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spikethedevil
07/06/20 11:28:08 AM
#22:


Wonder how many of them got given it by their parents.

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SomeGuyUO
07/06/20 11:43:26 AM
#23:


The majority of that wealth is not earned, it's generational.
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Austin_Era_II
07/06/20 11:47:02 AM
#24:


spikethedevil posted...
Wonder how many of them got given it by their parents.

Who gives a fuck. I can't stand people who get upset over that. If you're parents gave you stuff you'd take it with a smile unless you wanted to donate it all cause you wanna earn it on your own. Some people use that money to achieve more and even consider paying their folks back.

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CADE FOSTER
07/06/20 11:50:54 AM
#25:


Austin_Era_II posted...


Who gives a fuck. I can't stand people who get upset over that. If you're parents gave you stuff you'd take it with a smile unless you wanted to donate it all cause you wanna earn it on your own. Some people use that money to achieve more and even consider paying their folks back.

calm your ass down its to early for that anger buddy
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RchHomieQuanChi
07/06/20 11:53:02 AM
#26:


Awesome posted...
And in the usa anybody can become a millionaire but that takes something called intelligence and hard work ethics which many people dont have

So I guess that explains why you're at where you're at.

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TheMikh
07/06/20 12:00:34 PM
#28:


SomeGuyUO posted...
The majority of that wealth is not earned, it's generational.

it's really not that difficult to become a millionaire within a lifetime in america, especially after decades of compounding roi

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Lost_All_Senses
07/06/20 12:02:26 PM
#29:


TheMikh posted...
it's really not that difficult to become a millionaire within a lifetime in america, especially after decades of compounding roi

How did you personally become a millionaire?

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Annihilated
07/06/20 12:02:28 PM
#30:


Nobody should be rich. Everybody should be middle class or below.
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Austin_Era_II
07/06/20 12:02:43 PM
#31:


Many by their late 50s or 60s are millionaires especially based on the home they bought and if it's mortgage free since lets face it for our generation 20-30 years from now the same house is going to be a lot more. Inflation!!!

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DevsBro
07/06/20 12:03:35 PM
#32:


Bad_Mojo posted...
I think it could be, but not with most Americans because a lot of them are horribly materialistic and buy a ton of useless shit
Well. 1 million at current inflation and investment rates is something like $80k/year, but historically, inflation hangs around 2-4% instead of pretty much 0, which is more like $40-60k. It's doable but not what prospective retirees hope for.

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AlephZero
07/06/20 12:05:21 PM
#33:


If we redistributed that wealth everyone in the country could be a millionaire.

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Austin_Era_II
07/06/20 12:06:19 PM
#34:


Yeah North America is all about spending especially how each month there tends to be a holiday where you spend money and factor in buying shit for kids, parents and other people due to birthdays it adds up quickly. Luckily I don't give a shit about that stuff. There's more to buy now than compared to like 40-50 years ago especially cheap crap. I stopped buying dumb stuff now in my 30s. I can't stand junk. I only buy when I need stuff.

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Annihilated
07/06/20 12:07:30 PM
#35:


AlephZero posted...
If we redistributed that wealth everyone in the country could be a millionaire.

Flawless math. It all adds up.
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The Trent
07/06/20 12:08:06 PM
#36:


seize the means of millionairing

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Questionmarktarius
07/06/20 12:08:19 PM
#37:


AlephZero posted...
If we redistributed that wealth everyone in the country could be a millionaire.
[citation needed]
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DevsBro
07/06/20 12:09:05 PM
#38:


Of course most people are like uh oh retiring next decade, better start saving when they should have started in their mid 20s at latest.

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PIITB415
07/06/20 12:09:24 PM
#39:


Annihilated posted...
Nobody should be rich. Everybody should be middle class or below.

Yeah totally! We should not give people or companies a reason to innovate and push their boundaries. How stupid

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#40
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Jabodie
07/06/20 12:10:11 PM
#41:


TheMikh posted...
it's really not that difficult to become a millionaire within a lifetime in america, especially after decades of compounding roi
This is true tbh. We probably should add more finance education to school curriculums. As long as you don't get fucked with something like medical debt, a middle class person can build their wealth over a few decades to something substantial as long as they're not constantly buying bullshit and are reasonably smart about what loans they take.

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Forever_Black
07/06/20 12:11:50 PM
#42:


PrideOfLion posted...
What's the average age though? Nearing retirement it's not particularly impressive to be a millionaire with proper planning

psh tell that to all the people retiring broke or forced to work until they die.

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Austin_Era_II
07/06/20 12:23:37 PM
#43:


Some wouldn't be so broke if they made wiser choices. Don't buy expensive cars to show off. Don't spend like crazy on cigs and/or booze. It all adds up.

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The Trent
07/06/20 12:24:20 PM
#44:


uh i refuse to believe that my personal choices have an impact on my future
fuck that shit

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Questionmarktarius
07/06/20 12:25:40 PM
#45:


Annihilated posted...
Nobody should be rich. Everybody should be middle class or below.
If there's nothing above middle class, then the middle class are the "rich".
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The Trent
07/06/20 12:26:17 PM
#46:


Questionmarktarius posted...
If there's nothing above middle class, then the middle class are the "rich".

he's right
no more middle class either

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Jabodie
07/06/20 12:29:09 PM
#47:


Forever_Black posted...
psh tell that to all the people retiring broke or forced to work until they die.
These days there's so much readily accessible information on how to manage your money for retirement, there's not much excuse for young to start aside from "i didn't care at the time" or "i got fucked by student loan/ medical debt" or something along those lines. Unfortunately you really need to start in your 20s for the whole thing to work well, so a lot of people miss the window. But if you do start early enough, it is easy unless you're totally screwed by a huge, unforeseen expense.

Some people have proposed basic money management be part of the high school curriculum. And seeing how many people have fucked up finances, I've come to agree. A basic hs course could probably save a lot of people from financial tragedy.

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Annihilated
07/06/20 12:29:52 PM
#48:


The Trent posted...
he's right
no more middle class either

Now you're getting it.
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Questionmarktarius
07/06/20 12:31:15 PM
#49:


Annihilated posted...
Now you're getting it.
Who decides the distribution of the caves that we'd all live in, then?
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Austin_Era_II
07/06/20 12:32:09 PM
#50:


I know a few people who got 6 figure lump sums in their late 20s and blew it. Their mindset is living for today and not wanting to invest money through the bank cause they aren't happy with the growth...

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DevsBro
07/06/20 12:32:47 PM
#51:


Austin_Era_II posted...
Some wouldn't be so broke if they made wiser choices. Don't buy expensive cars to show off. Don't spend like crazy on cigs and/or booze. It all adds up.
The car thing is just absurd.

Lots of people throw away a million easily on depreciation and interest alone over their lives.

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