Are you richer than 85-90 percent of American households?
>>538427734Tbh, yesBeing white in a mutt county is freaking easy.Not really worth it though.
>>538427864That’s interesting, you grew up in a gated community, had a maid? $120k in brapzilplaces you at the top 1%.
Yes.
>>538427734You didn't include liabilities
No. I only make $40,000 a year before taxes.
>>538428216How much do you save?
>>538427734My grandparents had an estate in South Africa with a live-in house servant and a laborer named "Johnny" (not his real name). They moved to the US and built a 2,000 square foot nice house with cash, then reverse mortgaged it and now have almost $350k in debt against the home which will need to be paid off once they die or else we lose it. Grandpa trusted his youngest son to manage his finances, who withdrew all his retirement in 2008 at its lowest point and spent it on heroin or something. That youngest son had a paid off $100k house given to him, he put a line of credit on that and lost it to foreclosure too, now he's homeless.My parents bought a 3,800 sq ft 2 story house on acreage with a $360k loan. They let it be foreclosed when they divorced (deed in lieu) and the flippers that bought it sold it for almost $800k. We also lost a downtown condo to foreclosure and got evicted from a rental house after the landlord hiked the rent during COVID.My dad had half a million in retirement and somehow burned it all in the divorce and made sure not even a single cent went to us. The only cash assets we have are grandpa's $10k Rolex watch and our 20 year old cars, I guess, and about $100k in equity in the grandparents' home, which is dwindling by $2,300/month because of 8% interest on the $350k debt. We're fucked, OP. This situation is so ridiculous it almost makes me laugh, but I wake up every day and it never goes away.
>>538427734This is same software that will tell you 30% of Americans are millionaires
>>538427734Depends on how they define liquid. If it includes retirement accounts, yes. Otherwise, no. As a young guy I can't think of a good reason to have that much liquid cash outside of retirement accounts. Almost all my wealth is in my house, car, and retirement.
>>538429664Federal reserve data says the average America is a millionaire. Yes it’s skewed but still.
>>538429736Your retirement accounts follow the stock market, if the stock markets halve and crash then so does your retirement account, probably more, unless they are money market funds within in which case they are included in the metric.
>>538427734I make 60k a year and have around 150k between my accountsI throw all my spare money on etfs
>>538429955That has nothing to do with the question.
>>538427734Let's say we took all the wealth from the elon musks and wall street fat cats and redustributed it. Every nigger and white trash whore would have $120k in liquid assets in their bank account. How long would that equality last? How long before they spent it all (gave it to the 1%), their account would go to zero, and the 1% would have all the money again? 6 months?
>>538429728It's a collective retardation borne from never thinking ahead. Not sure why you deleted your post (or if you got caught up elsewhere by breaking the rules) but I can scarcely understand it, I don't blame you for not understanding it either. Shit is fucking nuts man
>>538430107This isn’t rocket science chief, it’s about deposits and currency and even retirement accounts have those so they are included in the original figure. Retirement accounts based all on the stock market can kill your retirement when the stock market crashes.
