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Started By
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re: The U.S. is minting more millionaires than ever
Posted on 6/6/26 at 10:15 am to NorthEndZone
Posted on 6/6/26 at 10:15 am to NorthEndZone
Damn. So we need $10M to be a 1967 millionaire.
0
Posted on 6/6/26 at 10:17 am to TigerintheNO
quote:
The job report was so good, that it likely triggered a rate hike
So, the market drops on a bad jobs report, or a good jobs report.
Ugh.
Fortunately, Friday's sell off only wiped out about a month of excellent gains.
Posted on 6/6/26 at 10:18 am to Shaun176
quote:
How many are millionaires if you take out primary residence and retirement account.
Found out why you aren’t a millionaire yet. Reading comprehension sucks.
This post was edited on 6/6/26 at 10:19 am
Posted on 6/6/26 at 10:24 am to Archives
quote:
Fortunately, Friday's sell off only wiped out about a month of excellent gains.
Have to know when to sell. Buffett said 2 days prior to the fall that everyone needed to not be greedy now.
Posted on 6/6/26 at 10:26 am to RoyalWe
quote:
Good jobs report = no rate cuts = stock market drop
I get that I guess, but to the tune of 200+ bps? Seems like a bit of an overreaction.
Posted on 6/6/26 at 10:28 am to Archives
It’s a good time to buy.
Posted on 6/6/26 at 10:28 am to HailToTheChiz
It has already started and it is well underway.
It will likely peak in 10 years or so.
Many are moving assets into irrevocable trusts, or gifting money ans assets now.
It is a historic $84T transfer, from boomerrs to millennials and Xs.
Good luck.
It will likely peak in 10 years or so.
Many are moving assets into irrevocable trusts, or gifting money ans assets now.
It is a historic $84T transfer, from boomerrs to millennials and Xs.
Good luck.
Posted on 6/6/26 at 10:28 am to RLDSC FAN
With my investments I’ll be one sometime in the 22nd century 
Posted on 6/6/26 at 10:29 am to Dadren
There’s a lot at play but yeah the market is always an emotional bitch. You probably had several people on the fence about deleveraging and the report pushed them over the edge to take action. Then some lemmings followed them. But since no one can predict the market, who knows?
Posted on 6/6/26 at 10:31 am to Shaun176
quote:so just money stuffed in your mattress or in a savings account?
How many are millionaires if you take out primary residence and retirement account.
Posted on 6/6/26 at 10:32 am to RLDSC FAN
Yea when you devalue the shite out of the currency that tends to happen.
Posted on 6/6/26 at 10:38 am to RLDSC FAN
Inflation will do that.
Wait a while and we'll all be billionaires.
Wait a while and we'll all be billionaires.
Posted on 6/6/26 at 10:51 am to RLDSC FAN
Are millionaires still defined has having $1 Million more in assets than debt?
Posted on 6/6/26 at 10:55 am to ragincajun03
As far as I know, but people squabble about your house being a part of that. I don’t have a problem including it.
Posted on 6/6/26 at 10:59 am to NorthEndZone
quote:
The CPI inflation calculator says that June 1967 to April 2026 inflation was 10x.
So, having $1 million today is like having $100,000 59 years ago.
In 1965 the NFL/AFL had their first $100,000 player Joe Namath
Posted on 6/6/26 at 11:02 am to TigerintheNO
quote:
In 1965 the NFL/AFL had their first $100,000 player Joe Namath
And you could purchase a ticket to the first Super Bowl for under $15.
Posted on 6/6/26 at 11:03 am to RLDSC FAN
Take away my house and retirement and I ain't got nothing to a mil.
Posted on 6/6/26 at 11:09 am to 777Tiger
quote:
I suspect some were de-millionaired on Friday.
quote:
yep, wtf was up with that?
Market correction after the less-than-stellar report from Broadcom
Posted on 6/6/26 at 11:11 am to RLDSC FAN
quote:
Homeowners had an average net worth of $1.5 million in 2022, compared with $154,000 for renters,
Wealth is a mindset for the renters. They don’t want to be tied to a location. They prefer an experiential lifestyle and avacado toast from Uber Eats.
Posted on 6/6/26 at 11:23 am to N2cars
quote:You guys really should look into the truth behind this.
It is a historic $84T transfer, from boomerrs to millennials and Xs.
It is simply a “headline” for boomers to masturbate to.
It isn’t real.
quote:
It’s also worth cautioning that the Great Wealth Transfer — as with wealth in general — will be highly concentrated among a minority of the population. In the US, 25% of assets are held by 1% of the population, and almost 80% is held by 20%.
quote:
According to the Federal Reserve’s Survey of Consumer Finances, only one in five Americans have received any inheritance. Of the people who have, the average sum is USD266,000, but that figure is unlikely to be representative for most.
Teresa Ghilarducci, a labor economist and expert in retirement security, said that after discounting the wealthiest 10% of Americans, the median inheritance of the remaining 90% is close to zero.
quote:
The calculations, published in the article “No Rest for the Weary: Measuring the Changing Distribution of Retirement Wealth in the United States,” show that the bottom 90% of this group had less wealth in 2016 than in 1992. In other words, for the vast majority, the Silent Generation were better off approaching retirement than are Baby Boomers, because the latter “took on so much mortgage debt and home equity loans,” said Ghilarducci. “So, even though Boomers were working and saving and buying assets in the biggest period of asset growth in our nation’s history, the debt outran that asset growth.”
quote:This isn’t to crush dreams, but to instead bring you guys back to reality.
Ghilarducci said that because of this, “the majority of people get nothing from their parents, and a significant minority of adult children are giving money to their parents.”
quote:
Stacy Francis, President and CEO of Francis Financial, added that “a lot of heirs are overestimating what’s going to come to them in their pocket from the Great Wealth Transfer, and may be relying on that to get them through their golden years. I would say that’s not a very safe place to be.”
quote:Just another masturbation of ego by a generation that is all about ego.
According to Northwestern Mutual's 2024 Planning & Progress Study, one third of millennials expect to receive an inheritance, but only 22% of Boomers expect to leave one (see Figure 3). Of those that are expecting an inheritance, half consider it “critical” or “highly critical” to their financial security.
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