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Reply to "What net worth is considered wealthy? Middle class? Poor?"
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[quote=Anonymous]I was just working with national data on net worth. Only 8% of Americans have a net worth over $1 million. Including all assets. (excluding home equity and retirement from your "net worth" is ridiculous. Net worth should reflect all assets and liabilities). So, PP who doesn't feel rich with $3M plus home equity and retirement is thoroughly out of touch with reality. Yes, you could in fact live on your current investments if you wanted to. You just want to spend a boatload of money every year for the next 50 years. Which is fine, but own the fact that you are rich far beyond the means of most Americans. [/quote]
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