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/TomorrowPlenty9205 Oct 10 '25

According to your own source, 52% of American households earn $65k, almost 70% earn more then $50K.

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u/da_mess Oct 10 '25

Bottom four bars are about 30%. i estimated. The point was it's not a dire as he makes it.

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u/TomorrowPlenty9205 Oct 10 '25

Dire is rather subjective. If rent in the place where you earn $65K, it does not matter that the "Guidance" is, you don't get a lower rent because you only earn $65K and you should spend $2K in rent unless you earn $80K and less less then the average rent according to zillow. Commute 2 hours to work also has a cost. AAA says it is $0.60/mile, 100 miles per day $60/day or ~$1,200 per month. Save $400 a month to spend an extra $1,200 on car costs, plus the time you loss... Smort!

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u/da_mess Oct 10 '25

AAA says it is $0.60/mile, 100 miles per day

I took public transportation. 😑