Liquid Millionaire Rarity...
PSA: I have tried as many AI models as I can spit this prompt into, and they have all told me that only 2.9% of American households are liquid millionaires – which is of course is net worth minus primary home equity.
"When assessing the number of millionaires in America, there is a massive divide between "paper millionaires" and "liquid/investable millionaires."
While surging home equity has pushed roughly 8% to 9% of American adults (or nearly 1 in 5 households) past the $1 million total net worth mark, the percentage drops significantly when you strip away the primary residence. According to data from the Federal Reserve's Survey of Consumer Finances and the Capgemini World Wealth Report, approximately 2.9% of American adults (around 7.9 to 8 million people) possess $1 million or more in liquid, investable assets like stocks, bonds, mutual funds, and cash, excluding their primary home."
That seems INSANELY low given the regular brag posts on here about being 35 with 2 million invested. For what it's worth I want everyone to reframe a little.. having even 3/4 of million dollars invested puts you in the very elite slice of society if you remove primary home equity (which we all know is dead money not really useful to us)
TLDR dont feel fomo when you read other peoples numbers. You are doing amazing. Try giving your numbers to the models and it will shock you back to reality.