Quote:
Originally Posted by Hugh R
I found this:
Have you ever wondered how your income and net worth compare with your fellow Americans? Below are some statistics compiled by the Census Bureau for the year 2005:
- There are about 240 American billionaires.
- 275,000 American households have a net worth of $10 million or more.
- About four million Americans (1.4%) have a net worth of $1 million or more.
- About five percent of households are considered high income and are defined as households that earn more than $90,000 annually.
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Funny but I would not consider myself rich or most of my friends, although most are worth over 1M. Everyone has to work for a living to keep their net worth from shrinking. I agree on using a very conservative value for your home when calculating your net worth.
Wealth in my opinion has to be liquid. Really liquid!!!
Wealth is the option not to work; ever!
Most household in CA that I know make over $150K/year and are far from what wealthy. Comfortable yes, wealthy no...