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by lovich 198 days ago
> I'd make the argument that most people can become millionaires.

Make the argument then. How do “most” people become millionaires if that requires owning businesses or getting high up in a company? Who works for them if the majority of people are at the top?

3 comments

There are many more ways of making money, and the economy is not zero sum. And of course just because most could do it doesn't mean most will. Most of us can workout 3 times a week, that doesn't mean most of us do.
It’s not a zero sum game but I think maybe we’re using the term millionaires differently.

When I, and most people I presume, use millionaires in casual conversation the reference is to being wealthier than most of society. It’s not usually meant as precisely having at least a million dollars since inflation has made that not a lot of money already since the colloquial use of the term millionaires first came about.

If you mean literally having a million dollars than we can probably just wait 50 years and even the destitute will be able to scrounge around for that much change.

Probably much sooner than 50 years, but yeah. If you mean filthy rich I think that takes a combination of work skill and luck that's hard for most people to achieve.

That being said, you don't need to be filthy rich to live a good life. There's the perspective that it's all mindset of course, but barring that you don't need to be filthy rich to go see F1 races for example. I've been to some when I was nearly broke. Obviously no Grand Prix grandstands but it's still achievable for the average person.

Oddly enough I'd say the OP has a decent point were it not for that last part.
I think a good deal of US adults will become nominal millionaires in their lives. The trick is to marry someone, own a house together, and contribute to 401ks.
It's a lower bar by the day. I expect by the time I'm, perhaps, retiring (which isn't even that far off), "millionaire" won't be enough qualification to tell if someone's comfortable in retirement, or mightily struggling. Especially if we just mean a net-worth millionaire.