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by robben1234 949 days ago
>Then EU > US. In the EU most people have a shot at this, with free education and possibilities.

This comparison only works at birth, or maybe up to teens. We are, most likely, working professionals here. With a degree and fairly established position. Becoming a millionaire is still a monumental task. However at this baseline US is much easier.
2 comments
bryanlarsen 949 days ago
Do an NPV calculation on the value of a solid pension at current interest rates. It'll be worth over a million.
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midasuni 949 days ago
Pretty easy really. But what does being a millionaire actually mean in terms of what you can do with your life?

Is your goal really “become a millionaire”? Not “have the ability to see the world” or “live in a nice house with kids an a dog”, just “have 7 figure on a spreadsheet of what I have managed to accumulate”

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robben1234 949 days ago
>just “have 7 figure on a spreadsheet of what I have managed to accumulate”

7 figure on a spreadsheet enables a lot.

An unregistered savings account in one of Canadian banks (just a point of reference, not sure if US has better) currently offers 4% yearly. That's 40k a year off the million. Enough to retire with kids in a LCOL country or travel year round as a nomad with a base in LCOL country.

Build a little bit more wealth and all those LCOL options turn into MCOL. E.g. northern Italy.

All while just being a working professional. It'd be unheard of in Europe to have this kind of options after just a couple years of work.

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