BigBangWeary
Recycles dryer sheets
Does anyone else get sick of hearing that a million dollars isn't what it used to be or isn't that much money anymore? As someone in the early accumulation phase who has worked hard to save and has gone without a lot of the luxuries, I have to admit I get a bit tired of this. Especially since most of my net worth has come through old fashion savings (thank you flat market )
I realize that a million saved is no longer a sure bet for a life of luxury (although those who subscribe to ERE would disagree), but it still seems like a heck of a lot to me! I highly doubt most of the people I hear saying this, or who post about it online are millionaires themselves.
I know it is hard to find truly accurate statistics, but if we trust Thomas Stanley's research and similar studies, only about 7-8% of all US households are millionaires, while nearly 70% are living pay check to pay check. I suspect that with such low returns in the markets, it will be even harder for the average person to accumulate the coveted million in the future, but I may be proven wrong.
What do you think? Is it just me, or do other 'Young Dreamers' here feel the same?
I realize that a million saved is no longer a sure bet for a life of luxury (although those who subscribe to ERE would disagree), but it still seems like a heck of a lot to me! I highly doubt most of the people I hear saying this, or who post about it online are millionaires themselves.
I know it is hard to find truly accurate statistics, but if we trust Thomas Stanley's research and similar studies, only about 7-8% of all US households are millionaires, while nearly 70% are living pay check to pay check. I suspect that with such low returns in the markets, it will be even harder for the average person to accumulate the coveted million in the future, but I may be proven wrong.
What do you think? Is it just me, or do other 'Young Dreamers' here feel the same?