[ckpwong]

Net worth of $1m is hardly "rich" in my definition, since it's not sufficient for most of first-world population to retire on. Heck, that 2500 sq ft down the road was listed for $700k and had multiple offers, and my neighbourhood isn't even considered "rich" (perhaps middle- to upper-middle class).

Net worth of $1m quite easily achievable by 50 with two middle class income, not being a spendrift, and not being a bonehead in investing. (For the record, trading stocks too actively is usually a bonehead move, so is putting all savings in CD's.)