Reply to Net worth over $20 million

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Is it true that only 280,000 people in the US have a net worth over $20 million? [b]That seems low. [/b] Is that an old figure from before the stock market went bananas?[/quote]

Why, OP? Because there are like 3 of you hanging out on this forum and posting how easy it must be to accumulate this wealth we should assume that everybody and their mother is loaded?  :lol:

What do we do with various statistics of how most US households are a job loss away from being destitute and don't even have a few months of savings available to them? Or people who are close to retirement and have less than 500K NW?   280k is less than 1% of total US population, it sounds about right to me.  There are millions of low millionaires but 20 mil is a different level that's much harder to achieve because vast majority of people aren't good at investing without panic or creating successful businesses or earning 7 figures. [/quote]

No one who posted they have this level of wealth said it was easily replicable by others. That's the crux of it. You can't go back in time and buy Apple stocks at a dime a dozen like I did. If you want to do the same, you can't, because Apple has reached maturity and is now too expensive, and you have to take a risk like I did and pick the next big winner. Not easy!!! Although in more recent years I've had good luck with all the famous tech stocks (Amazon, Alphabet, Netflix, etc). Sold Tesla once the idiot made his Nazi salute. I'm live and let live, but certain things are beyond the pale. And no, besides marriage or lottery, no one gets rich overnight.

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