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Posted (edited)
14 minutes ago, Goofyboy said:

Top 5% in the US is $1.7M to $2.7M. The top 2% is around $4.5M to $5.7M. Top 1% is $10M. Granted this is skewed due to the top .1% having massive wealth.

Ok, maybe I’m not top 5%

Edited by SydneyCarton
Posted

I have wondered what the breakdown of this site is and how that reflects the actual US population. We have 1 wealthy guy. A few of us are in the $5M range. Some in the $1M range. Rocco fit somewhere in here.

Posted
1 hour ago, Goofyboy said:

I have wondered what the breakdown of this site is and how that reflects the actual US population. We have 1 wealthy guy. A few of us are in the $5M range. Some in the $1M range. Rocco fit somewhere in here.

 That you know about. This site has more than one "wealthy" guy, there's at least 4-5 "wealthy guys," and I'd guess probably 15-20 or more in the $5 million range.

There's probably a lot of engineers and lawyers worth well over a million just based on long careers and retirement funds, particularly if we're including home equity. 

I think it's more like an iceburg. 80% of it is below the water and doesn't post or you'd never know about it. Someone here probably invented a Jump to Conclusions mat. 

  • Like 1
Posted
1 hour ago, SydneyCarton said:

 That you know about. This site has more than one "wealthy" guy, there's at least 4-5 "wealthy guys," and I'd guess probably 15-20 or more in the $5 million range.

There's probably a lot of engineers and lawyers worth well over a million just based on long careers and retirement funds, particularly if we're including home equity. 

I think it's more like an iceburg. 80% of it is below the water and doesn't post or you'd never know about it. Someone here probably invented a Jump to Conclusions mat. 

This. It's a lot more than you think 

Posted

Lets be frank.  A million dollars in wealth today is not an outlandish figure.   

I believe this board is mostly Gen X with some Millennials and one Pre-Columbian.   Anyone who has owned a home over 15 years, contributed regularly to a retirement account and didn't HAVE to keep up the the joneses/divorced/developed a crippling drug habit is very likely over a million in NW.   

 

Posted
11 minutes ago, Incredulity said:

Lets be frank.  A million dollars in wealth today is not an outlandish figure.   

I believe this board is mostly Gen X with some Millennials and one Pre-Columbian.   Anyone who has owned a home over 15 years, contributed regularly to a retirement account and didn't HAVE to keep up the the joneses/divorced/developed a crippling drug habit is very likely over a million in NW.   

 

A million dollars in today's world doesn't even constitute "wealth." 

It constitutes "I might able to retire one day and be able to eat and pay medical bills." That's about it. 

  • Hook 'Em 4
Posted

Remove the home, as you still have to have a roof over your head and selling said home to make that wealth liquid doesn’t mean you get all of it - because you still need a roof over your head. There may be 1 in 5 Americans with $1M net worth, but it isn’t accessible.

Posted
5 minutes ago, Goofyboy said:

Remove the home, as you still have to have a roof over your head and selling said home to make that wealth liquid doesn’t mean you get all of it - because you still need a roof over your head. There may be 1 in 5 Americans with $1M net worth, but it isn’t accessible.

 

If you sell a house with $300K of equity(average US homeowner equity) you can spend half of that however you would like and still rent a house for 2k a month(avg home rental price) for 75 months just from the equity.   Not the best financial decision,just a simple straight forward math example and yes the numbers are different in San Jose CA vs Pigsknuckle MS. 

 

Currently, by straight up math calculations, in some locations the prudent decision is to rent.

 

 https://www.cbsnews.com/news/whats-the-average-home-equity-amount-right-now/

The average homeowner currently has about $313,000 worth of equity in their home, according to the March 2025 Intercontinental Exchange (ICE) Mortgage Monitor Report. 

 

 

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