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.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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

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?

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.

It’s estimated that 40% of Nvidia’s workforce is worth $20MM or more…that’s like 15,000 people at just one company.

Now extrapolate to all these tech companies that have seen huge stock runs over the last several years…not to mention OpenAI is private and is valued at $250BN, so you have hundreds there worth at least $20MM on paper…as well as at all these other AI companies.

FYA OpenAI caps PPU gains at 10x. So if your PPU was worth $500K it can only 10x before it is capped per PPU (so $5M). I think they were working to remove this but not sure if that ever went through. NVIDIA isn’t capped since it’s proper RSUs.

Anonymous wrote:

Anonymous wrote:

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

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?

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.

It’s estimated that 40% of Nvidia’s workforce is worth $20MM or more…that’s like 15,000 people at just one company.

Now extrapolate to all these tech companies that have seen huge stock runs over the last several years…not to mention OpenAI is private and is valued at $250BN, so you have hundreds there worth at least $20MM on paper…as well as at all these other AI companies.

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

Anonymous wrote:Yea there are some real weirdos on this thread

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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

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?

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.

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.

The thing about stocks is that they don't just grow overnight either and even if they grow a lot over time, there are also ups and downs and different behaviors people display when this happens. what set you apart from other investors (which is likely also true for those who made a kilinn in crypto) is discipline to hold and not sell when stocks go up and down. Long term holding is risky. anything can happen overtime, and many early investors who could have made a killing end up selling whenever they can realize even little profit for various reasons. Call it anxiety or a need to pay bills or gambling with other sectors. Also, don't forget many millions of people who get periodically wiped out investing. You are one person whose success reflects overall growth in stock market over the decades, but this doesn't make people like you statistically significant compared to other investors.

it's far more likely that other investors with sizeable portfolios also had regular infusions of capital from their very high paying careers (like C level) or successful business profits, or even family money.

The stories of a lone investor who started with modest capital and grew to many millions by buying an holding tech sector stocks over the decades may not be as frequent as you think?

Anonymous wrote:

Anonymous wrote:

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

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?

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.

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.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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

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?

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.

It’s estimated that 40% of Nvidia’s workforce is worth $20MM or more…that’s like 15,000 people at just one company.

Now extrapolate to all these tech companies that have seen huge stock runs over the last several years…not to mention OpenAI is private and is valued at $250BN, so you have hundreds there worth at least $20MM on paper…as well as at all these other AI companies.

You might have answered your own question here. 1) the stats apparently consider "investable capital", I am not sure if company stock is this. 2) Nvidia had breakaway returns that do not reflect "all other" tech companies. Is there some tech sector stock market boom I am not noticing? Most large companies do not allocate much in terms of options for newer employees, and the number of old employees isn't as high as you think. AI thing is iffy and so far it's more about investment into it vs returns.. Returns might be dubious

How many people with liquid capital of 20 mil are there in your opinion?

Anonymous wrote:

Anonymous wrote:

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

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?

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.

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.