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this post was submitted on 06 Aug 2024
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chapotraphouse
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Millionaire as in, has 1mil in their bank account? 1 mil in stocks? Or 1mil in assets (home, car, etc)?
IMO, it is way different to have a million dollars in your bank or in stocks, than to have like, an 800k home with a nice job.
Yeah it's probably something like the sum of all your belongings.
Typical scenario of grandparents bought a house in a poor neighborhood and two generations later gentrification made it 10 times more valuable so their middly privileged grandchildren are now technically millionaires
this