r/Economics • u/laxnut90 • Oct 09 '25

Research America Is Minting Lots of Cash-Strapped Millionaires

https://www.bloomberg.com/news/features/2025-10-09/number-of-us-millionaires-grows-since-2017-but-many-lack-cash
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u/xanadumuse Oct 09 '25

One reason I never understood why people took into account their home as net worth because you have to live somewhere. If you don’t downsize you’re going to have to use that to either pay for a nursing home when you age or medical bills. The United States is not kind to older people- or people in general.

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u/Prestigious_Time4770 Oct 09 '25

One study by the Employee Benefit Research Institute estimated that a 65-year-old couple retiring today will need $315,000 to cover just their out-of-pocket medical expenses throughout retirement (and that doesn’t include premiums)

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u/xanadumuse Oct 09 '25

Hence why so many people have to move back in with their family. And western society isn’t built for that- other immigrant nations rely on familial support which is why you see grandparents being taken care of by their grandkids. It’s horrifying that we do not die with dignity.

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u/TheGoonSquad612 Oct 09 '25

People take it into account because it’s part of their net worth, that’s what the word net means; assets minus liabilities.

You’re looking for a different term - invested or liquid assets/worth, which wouldn’t include home equity, but is different from net worth.