So I was talking to some family members who’ve lived in the States for a long time. They’re getting close to retirement age and were complaining about money stuff. But then they dropped a bomb saying they have about $9 million saved up.
The weird part is they acted like it wasn’t a big deal at all. They said it’s pretty normal and even called it middle class. They mentioned most of it is in old houses, so they only have like $4 million in cash.
I’m kinda shocked. Where I’m from, even $4 million seems like it would last forever. Are they just being modest or showing off? Is having millions really no big thing in America? Or maybe it’s just where they live?
I’m curious what others think about this. Is $9 million actually average for older folks in the US? Or are my relatives living in some kind of bubble?
Your relatives’ perspective is quite skewed. $9 million is far from average wealth in the US. The median household net worth is actually around $120,000, so your family members are in the top 1% of wealth.
Their view likely comes from living in a high-cost area or socializing in wealthy circles. In places like San Francisco or New York, multi-million dollar homes are common, which can distort perceptions. But nationwide, even $1 million in savings puts someone well above average.
It’s not uncommon for very wealthy people to downplay their finances or compare themselves only to other rich folks. But make no mistake - having millions in assets is exceptional, not middle class. Your relatives are living in a bubble if they think that’s normal.
lol ur relatives are way off base. $9 mil is nowhere near average in the US. most ppl are strugglin to get by, not sittin on millions. sounds like they live in some fancy bubble and lost touch w/ reality. maybe they should try livin like normal folks for a bit, might give em some perspective
Wow, that’s wild! $9 million is definitely not average in the US. Most folks are nowhere near that. Your relatives might be in a bit of a bubble. I’m curious, what area do they live in? And what kind of work did they do to save up that much? It’d be interesting to hear more about their perspective on wealth.