878 Thousand new Millionaries in the last year

[Clarallel]

Originally Posted by BentBow

878K New Millionaires in the last year.
up from 700,000 in 2017
Upward mobility baby! Working and moving up, beats sitting at home and begging the government for help.

First, I can't help wondering if you understand inflation, and if you recognize that being a millionaire now is not the same thing as being a millionaire in 1970 or 1940.

Second, do you understand that a lot of these millionaires have only achieved that status by moving money around or doing some computer tinkering? It's not what any honest person would call working hard, as opposed to your imaginary idea of sitting at home and begging.

[Finn_Jarber]

Originally Posted by legalsea

Come to think of it, I am a millionaire. My wife and I have some $750,000 between us, plus our house is around $300,000 in assessed value. Huh.

Being a millionaire means practically nothing these days.

It was a large sum three decades ago.

[craigiri]

They must have invested in the DOW.....up like nothing.

But they probably had 999,000 and the 2 or 3% the DOW is up since Jan made it a Million. Unfortunately, inflation is currently over 3%, so they are worse off then they were and getting socked every day as the markets sink.