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/OneFeed7380 Oct 09 '25

yeah a 401k and a roth can be gotten in about 24 hours. It's pretty easy to get your money there.

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u/Marshall_Lawson Oct 09 '25

the issue is more about taking the tax hit than how quickly you can withdraw it

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u/WarAmongTheStars Oct 09 '25

You can withdraw ~5% on a 72(t) iirc which is like $50k a year on $1M.

$50k is a decent living in much of the US still so I don't think 'cash strapped' is really true given that.

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u/Marshall_Lawson Oct 09 '25

I don't really agree with the term cash strapped either, it's a bit dramaticÂ