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What it takes to be Comfortable vs Wealthy USA 2022 (Patreon)

Published:
2022-07-29 21:29:50
Edited:
2022-07-29 23:12:02
Imported:
2022-08

Content

Stats from Barrons today: NOT MY DATA NOT MY ARTICLE. I KNOW PEOPLE NORMALLY FIND SUCH DATA INTERESTING ESP THE DROP BUT I WILL REFRAIN FROM SHARING SUCH INFO IN THE FUTURE AS THIS ONE CAUSED QUITE THE REACTION. 

These numbers are net worth and not annual income. 

The number required to be comfortable today in the USA is $774K down 18% from 2020.  Stunningly down 45% from 2018! 

The number required to be wealthy today in the USA is $2.2M down 16% from 2020.  It is also below the 2018 number. 


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Comments

Anonymous

I don't agree with these numbers at all. for starters, we've got 9% inflation - compounding annually. Plus. how much yield do you get off $2 million? maybe $60K a year, if you're lucky. so you're losing a huge chunk of your wealth to inflation every year. Lastly, net worth combines real estate, and all other assets. If your main RE holding is a private residence, then your not getting any yield, in fact, it's a negative carry - given maintenance expenses. Seriously, it looks like they surveyed a bunch of people with sub-million net worths and asked them to guestimate what "rich" looks like to them.

Anonymous

Nothing wrong w sharing this! Fodder for discussion. Barrons WAY off for “comfortable.” Almost anyone can be “comfortable” if austerity is amenable.