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at140

(6,110 posts)
Thu Mar 14, 2019, 06:34 AM Mar 2019

The U.S. Now Has More Millionaires Than Sweden Has People

(Bloomberg) -- The number of wealthy households in the U.S. reached a new high last year, roughly equivalent to the entire population of Sweden or Portugal. More than 10.2 million households had a net worth of $1 million to $5 million, not including the value of their primary residence, according to a survey by the Spectrem Group. That’s up 2.5 percent from 2017.

Read more at: https://www.bloombergquint.com/markets/the-u-s-now-has-more-millionaires-than-sweden-has-people#gs.1ephuw
Copyright © BloombergQuint

Summary of Trump Economy--Rich get richer (3% population), the vast middle class going nowhere.
We need Senator Elizabeth Warren as president more now than ever. She has the most coherent plan
for the economy and to grow the middle class.

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The U.S. Now Has More Millionaires Than Sweden Has People (Original Post) at140 Mar 2019 OP
probably says more about the value of $1M than it does about the economy rampartc Mar 2019 #1
$1 million in a retirement account Abnredleg Mar 2019 #2
Wow, you are right, it's enough for a retirement account depending on how long you live Farmer-Rick Mar 2019 #3
Rule of thumb is 4% annual withdrawal rate Abnredleg Mar 2019 #5
Secret to happy retirement is NOT amount of money at140 Mar 2019 #4
This message was self-deleted by its author OnlinePoker Mar 2019 #6

Abnredleg

(663 posts)
2. $1 million in a retirement account
Thu Mar 14, 2019, 08:07 AM
Mar 2019

will generate approximately $40,000/year, which is below the median household of $56,000. The 10.2 million households with a net worth include a lot of working class people who were fortunate to save enough over 40 years to build a decent nest egg for retirement. Unfortunately, the killing off of pensions and lack of jobs with a liveable wage have placed this dream out of reach of most working people.

Farmer-Rick

(10,071 posts)
3. Wow, you are right, it's enough for a retirement account depending on how long you live
Thu Mar 14, 2019, 09:10 AM
Mar 2019

And how much you withdrawal.

I once sat down and calculated how old I would be when I will have collected a million dollars from my military retirement. It doesn't take as long as you might think.

at140

(6,110 posts)
4. Secret to happy retirement is NOT amount of money
Thu Mar 14, 2019, 09:15 AM
Mar 2019

In United States the secret is staying healthy!
Since I have very few health issues, I can live comfortably on
social security plus about $1200/mo additional money.
I take 3 or 4 cruises of 7 days every year from Florida ports.

The day I stop or unable to continue my exercise routine, is when my health
maintenance will become expensive. I signed up for a Humana MedicarePlus
plan which is designed for healthy individuals, which costs nothing per month,
actually pays me $55/mo to stay in the plan.

Response to at140 (Original post)

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