Net worth over $20 million

[Anonymous]

Anonymous wrote:It feels low and also I have no idea how this data could even be collected, to be honest. Net Worth includes so many holdings that are not reported to any governing body in a given year unless they are/become taxable (which many are not until a specific event).

You can tell someone’s net worth after they’ve died.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It feels low and also I have no idea how this data could even be collected, to be honest. Net Worth includes so many holdings that are not reported to any governing body in a given year unless they are/become taxable (which many are not until a specific event).

You can tell someone’s net worth after they’ve died.

No you can’t.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have no idea who many there are in the US.

But I have come to realize that people are not frugal once they earn serious money.

I know this because we have 20M through investments and being actually frugal. The people we know who have large salaries do not live like us. I don't think anyone actually realizes how much we've accumulated, since we're still in our starter home, with our starter cars - and that's fine, we like flying under the radar! But I know we are definitely weirdo outliers

Similar story here. Worth $16M and live in a small house in a nice neighborhood. Public schools for kids and 1st is at a public university. Low to mid 50s and will likely retire when last kid gets out of college. Expect to have $30M by then. Drive old cars and buy reasonable clothes. But nice vacations with the kids.

James Grubman ("Strangers in Paradise") calls it the Fearful Frugal. A bit sad actually.

NP. This is essentially us, too, but I don’t think it’s sad at all. When you have a ton of money, you might realize that spending it on frivolous stuff really doesn’t make you happier.

I have a ton of money. That's false.

Yeah, the people who say having the money to buy nice things can’t make you happier just sound poor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have no idea who many there are in the US.

But I have come to realize that people are not frugal once they earn serious money.

I know this because we have 20M through investments and being actually frugal. The people we know who have large salaries do not live like us. I don't think anyone actually realizes how much we've accumulated, since we're still in our starter home, with our starter cars - and that's fine, we like flying under the radar! But I know we are definitely weirdo outliers

Similar story here. Worth $16M and live in a small house in a nice neighborhood. Public schools for kids and 1st is at a public university. Low to mid 50s and will likely retire when last kid gets out of college. Expect to have $30M by then. Drive old cars and buy reasonable clothes. But nice vacations with the kids.

James Grubman ("Strangers in Paradise") calls it the Fearful Frugal. A bit sad actually.

NP. This is essentially us, too, but I don’t think it’s sad at all. When you have a ton of money, you might realize that spending it on frivolous stuff really doesn’t make you happier.

I have a ton of money. That's false.

Yeah, the people who say having the money to buy nice things can’t make you happier just sound poor.

You’re both in luck. There are plenty of wealthy d-bags out there who like to talk about their net worth and their cars and their watches and their vacations, etc. I go out of my way to avoid these types. People are different, even those who have a lot of money.

[Anonymous]

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Anonymous wrote:This is too low. Of course I understand that my circle of friends is not a random sample, but personally know probably more than 25 people. And that does not include celebrities like Bill Gates, etc. I am not buying this number.

Similar. We personally know multiple billionaires with at least PT residence in the DC area (none of whom show up on any lists) and 25+ UHNW (on the low end) worth over $100M. Most are self-made from MC backgrounds but there’s some old money thrown in there.

Mobsters? What billionaires don’t show up on any lists?

How is it people all seem to know many people that meet the threshold…but you yourself don’t?

There’s plenty of family businesses that are 100% private and worth billions that won’t show up in any public filings. Same for those with billions in Bitcoin or those who inherit massive trusts.

The Forbes list includes all this. Numerous people on the list own private companies or inherit massive trusts. Also includes bitcoin billionaires.

The only people that aren’t on the list are criminal. It’s estimated Putin may be the richest person in the world because he has confiscated numerous assets illegally…so he won’t be on the list. Also Mexican cartel leaders aren’t on the lists even though they likely control many billions.

I know one guy personally worth low billions whose name doesn’t show up anywhere in Google as a billionaire. He’s not a criminal as far as I know

Sure you do. On DCUM, everyone seems to “know someone”.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It feels low and also I have no idea how this data could even be collected, to be honest. Net Worth includes so many holdings that are not reported to any governing body in a given year unless they are/become taxable (which many are not until a specific event).

You can tell someone’s net worth after they’ve died.

No you can’t.

Beneficiaries can.