[extropy-chat] millionaires in America

[Robert Lindauer]

Well, a million dollars, even in non-liquid assets, is still a 
significant amount of money for -most people-.  You can still retire on 
it and move to the Ozarks if you're so inclined, for instance.  It's 
admittedly not the high bar it was even 30 years ago. 


Robbie Lindauer


BillK wrote:

>On 7/28/05, Robert Lindauer wrote:
>  
>
>>It's definitely statistically significant.  I wonder if they've done
>>other studies on the children of millionaires to see if they're 10%
>>smarter, harder working and more driven than 'other people'.
>>
>>    
>>
>
>On the other hand, 1million USD is around 570,000 GB pounds, which
>will get you a nice house in the London and South East England
>property market, but nothing very extravagant.
>
>Most people over 60 years old have paid off their real estate
>mortgage. Remember it was started many years previous when property
>values were 10% of current prices. They can now call themselves dollar
>millionaires. I would expect the same to apply in USA, for the
>majority of older property owners.
>
>I remember people commenting that their house was earning more than
>they were, because property prices were rising so fast.
>
>BillK
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