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re: the gap between a million dollars and a billion dollars
Posted on 5/12/26 at 11:33 am to BK Lounge
Posted on 5/12/26 at 11:33 am to BK Lounge
quote:
Just about everyone in America is now a millionaire on paper (if they liquidated home, 401k, vehicles et al) -
lol. What a display of wholesale ignorance.
If they liquidated everything, most have dick in 401ks, over a quarter are upside down on their car, and would have some home equity, only to have to buy a new place at higher rates, downsize, or pay cash—or live on the street in California.
This post was edited on 5/12/26 at 11:37 am
0
Posted on 5/12/26 at 11:47 am to CAD703X
quote:
and a return of 10% makes it a million in 14 years a return of 15% gets you there in a little over 9 years considering the AVERAGE rate of return of the stock market for the last 30 years is 10.5% you're intentionally low-balling the math
Maybe not. 7% is a historical average used for planning purposes. Banking on 10.5% average gains is unrealistic.
Posted on 5/12/26 at 11:52 am to BK Lounge
quote:
Ok, I was exaggerating for effect.. but not by much .
"just about everyone" when the real number is likely below 10% and you say you weren't exaggerating by much?
Posted on 5/12/26 at 11:59 am to BowDownToLSU
$1 million buys you one bottle of Tiger Water ...
Posted on 5/12/26 at 1:43 pm to CAD703X
quote:
considering the AVERAGE rate of return of the stock market for the last 30 years is 10.5% you're intentionally low-balling the math
Forgetting taxes ain’t good. After tax returns!
Past predicting future ain’t good either. Bond yield curve inverted Q325. Some unusual things have preempted recession (thankfully) but Berkshire Hathaway is not record cash equivalent presently because of any historical averages.
Tell me you have never lived through a 2008-10 ‘black swan’ event without telling me you have.
Posted on 5/12/26 at 4:09 pm to Everyday Is Saturday
quote:
Tell me you have never lived through a 2008-10 ‘black swan’ event without telling me you have.
i'm 60. i've lived through several 'events'.
Posted on 5/12/26 at 4:28 pm to BowDownToLSU
quote:I think demonstrated mastery of orders of magnitude should be a prerequisite for a number of things, but particularly serving on juries handing out $ awards.
the gap between a million dollars and a billion dollars
Posted on 5/12/26 at 5:39 pm to BowDownToLSU
These are the statistics that people use to hate wealthy folks because they don’t have money
Posted on 5/12/26 at 5:41 pm to DeplorableTerrorizer
quote:
And the point of this is?
Maybe the OT is not the board for you
Posted on 5/12/26 at 6:43 pm to DeplorableTerrorizer
quote:
And the point of this is?
That a billion is a thousand millions, but everyone already knew that.
Posted on 5/12/26 at 6:44 pm to Tiger Ryno
quote:
In terms of quality of life the millionaires have way more in common with billionaires than people who earn a mere 6 figure living.
Ehh, someone who has $50 million? Sure. But someone who has $2 million has a lot more in common with the six figure earner than he does to a billionaire.
Posted on 5/12/26 at 6:45 pm to BowDownToLSU
Start investing wisely early and manage your own portfolio to avoid fees.
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