Perhaps, but I think a million USD in total savings is a lot of money, too, and I do not think the majority has that amount in total savings. Are there any statistics on this?
there are many stats from many sources, probably with varying accuracy. And please keep in mind since it's financial, many of them will be trying to sell you things.
There's also a difference between retirement savings and net worth. I'd guess there was a jump in "house poor" millionaires over the last few years.
The Fed has a Survey of Consumer Finances which can graph net worth broken down by perentile. You're right that even $1M net worth is not the majority, but top 25%ile:
There's also a difference between retirement savings and net worth. I'd guess there was a jump in "house poor" millionaires over the last few years.
The Fed has a Survey of Consumer Finances which can graph net worth broken down by perentile. You're right that even $1M net worth is not the majority, but top 25%ile:
https://www.federalreserve.gov/econres/scfindex.htm?mod=arti...
https://www.federalreserve.gov/econres/scf/dataviz/scf/chart...
Probably more millionaires in the last few years with inflation though.
This is all US-centric; the author, Richard, is in Japan; I'm not sure how net worth, savings, retirement, or taxes are in Japan.