Net worth over $20 million

[Anonymous]

Anonymous wrote:We are retired and our net worth is well over $20 million, closer to $100 million than $20. We just recently finished our taxes and our dividends alone were over $900k and capital gains $1.4 million. We live very comfortably but certainly not an ultra high net worth lifestyle. No big boat, PJ or fancy cars. We are simply not wired to live that way. Much of our net worth is assigned to trusts for our children and our grandchildren and charitable trusts. The family trusts are not set up to let someone be a trust fund baby. I'm sure a lot of people would say we are crazy not to spend more (fly private!) but what we do works well for us. We also have the luxury of knowing that if we did need to fly private it would not be a problem.

whats the point of your post? You are objectively wealthy and live a wealthy lifestyle, you are a small minority of population. The debate is whether having investable NW of 20 mil is as common as OP claims it should be. And whether it's considered "rich" when there are posts claiming it's just UMC. Good thing you don't claim how ordinary your life is and how you are just upper middle class because you forgo private jet travel

[Anonymous]

Anonymous wrote:

Anonymous wrote:i have 20 million, age 48. w2. Likely, this will turn into 75 million in 20 years, with a conservative estimate.

There is no way our country is going to make it 20 years without a serious crash. You’ll be lucky if it’s back to $20 million after the country’s upcoming financial disasters.

This. The expectation that stock market and crypto and all the bloated up financial manipulation BS will keep growing at a high rate indefinitely is a fallacy, especially in the environment where majority of people are struggling to afford mere basics while working full time, welfare class that's rewarded to not work is growing, and nobody wants to have kids, while we have disproportionately large elderly population that's either holding all the assets without contributing in terms of job creation or spending, or are dirt poor and live off SS/Medicare.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:i have 20 million, age 48. w2. Likely, this will turn into 75 million in 20 years, with a conservative estimate.

There is no way our country is going to make it 20 years without a serious crash. You’ll be lucky if it’s back to $20 million after the country’s upcoming financial disasters.

This. The expectation that stock market and crypto and all the bloated up financial manipulation BS will keep growing at a high rate indefinitely is a fallacy, especially in the environment where majority of people are struggling to afford mere basics while working full time, welfare class that's rewarded to not work is growing, and nobody wants to have kids, while we have disproportionately large elderly population that's either holding all the assets without contributing in terms of job creation or spending, or are dirt poor and live off SS/Medicare.

Maybe. Maybe not.