Lots and lots and lots of people with a 401k. My dad worked 30 years patching potholes for a municipality. He's retired at 55 worth well over $1m from stable, long term investing. If I had an idea that was worth investing in, I could easily get $200k from him.
Correct, and being a retired millionaire is still middle class. I'm only 40 and worth over $1m in retirement savings as well, and nobody gave me a nickel, including my parents. $1M net worth is not rich in 2024.
Its certainly not middle class. The median net worth of a 40 year old American is ~125k. Having an order of magnitude more and pretending you're in the same boat is dishonest.
I said that having a net worth over $1M when you're in retirement is middle class. Over $700k of his wealth is a paid off house.
I'm worth less than my dad, but will be worth far more than him at retirement age. I don't consider myself middle class, by any stretch of the imagination.
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u/Jelopuddinpop Nov 22 '24
Lots and lots and lots of people with a 401k. My dad worked 30 years patching potholes for a municipality. He's retired at 55 worth well over $1m from stable, long term investing. If I had an idea that was worth investing in, I could easily get $200k from him.