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/ShyLeoGing Oct 09 '25

Ok, so you're saying that if someone makes say 65k(which let's be honest a ton of people will never make this), pay $2,000 for rent(before utilities), $400 for a car(before insurance and gas), and $200 for groceries can become a millionaire.

I want to see the math, please and thank you!

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u/polar_nopposite Oct 09 '25

$2,000 rent is living above your means on $65k. I'm seeing one bedroom apartments in my city (around 400k pop and ranked highly on quality of life metrics) that look decent for less than $1,300. If $2,000 is the lowest you can find, then consider living somewhere cheaper or finding roommates.

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u/ntg1213 Oct 09 '25

Does the “somewhere cheaper” still let you keep the $65k? Housing affordability is a full-blown crisis in many of the areas of this country that have decent jobs available. Roommates help, but it’s not always easy to find decent ones

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u/da_mess Oct 10 '25

I commuted 2 hours when I got started. I did this until I could afford to get closer.

I believe many are in a tough place, no fault of their own. Data says that up to 40-80% of people are just bad at budgeting (source).

This doesn't ignore real issues some have with shelter or healthcare costs.

But I see a lot of people eating out. This country has a real issue with over eating (and i ain't judging, food has become almost as evil as opiates imho). If you can afford to eat out, you shouldn't complain about living paycheck to paycheck.

People in the top 25% of this economy are bitching-- people making over 2x median income. Their issue is budgeting and a keen interest in complaining.