View single post by Principal_Raditch
 Posted: Sat Nov 24th, 2018 05:55 am
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Joined: Mon Feb 18th, 2008
Posts: 6695
So I researched this before on what % of households have liquid assets worth $1 million or more not including home value. There's not a set number, but the consensus seems to be somewhere @ 7-9%. So even as a whole having a million, while not like 20 or 30 years ago, still separates the overwhelming majority of the country fiscally.

Now my wife and I do ok. Combined we make more than 90% of households annually, but we're at the bottom end of that range and the gap between us and the truly wealthy is also a world apart. But even for us to get to this point....our house payed off, retirement and investment accounts that should be able to replicate 80% of our current income at retirement puts us in a safer spot than I realize most of the country is in. It took me though being consistent since my 20's in selecting certain stocks to move in/out of . In Kansas City real estate just doesnt move like other markets...which is great for people buying a house, but not good for rental units or reinvesting in comparison to larger urban centers. If all I had done was dump $$ in bonds or conservative funds there's no way we'd be where we are just based on our income. The problem I see at work is that there are a lot of people earning good combined incomes with their spouses, but who will never be able to replicate it come retirement. They might make 150-200k combined in a city where living is cheap, but here they are in their 50's and have maybe 100k saved, and have no clue that once they retire, they'll be bringing in 1/4 of what they were once earning and forced to readjust their lifestyle.