US Politics on Sidechat | “You will never be a millionaire” is such a wild thing to claim when: - 18% of US households have a net worth over $1 million - the likelihood of becoming a millionaire increases as you get older - Gen Z has the highest average income ever at our age

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US Politics 5w

“You will never be a millionaire” is such a wild thing to claim when: - 18% of US households have a net worth over $1 million - the likelihood of becoming a millionaire increases as you get older - Gen Z has the highest average income ever at our age

24 comments. Sidechat image post by Anonymous in US Politics. "“You will never be a millionaire” is such a wild thing to claim when:

- 18% of US households have a net worth over $1 million
- the likelihood of becoming a millionaire increases as you get older
- Gen Z has the highest average income ever at our age"

Anonymous 5w

That’s called inflation

Anonymous 5w

well it would make sense that we make the most for our age, the cost of living is higher than it’s ever been, that’s called necessary to live bro

Anonymous 5w

Nice stats but unfortunately my personal circumstances are different so im going to refute everything

Anonymous 5w

does it matter if i’m making 2X more than my grandfather if everything is 10X more expensive..??

Anonymous 5w

counterpoint: millionaire status is meaningless when out of context more purchasing power and a larger income do not translate to the ability to afford the important things (home, education, auto, healthcare). that's never been how it works buddy https://www.consumeraffairs.com/finance/comparing-the-costs-of-generations.html#how-purchasing-power-has-changed-over-time

Anonymous 5w

Well how come you aren’t a millionaire yet OP? You’re Gen Alpha so you should have an even higher income than any of us older folks

Anonymous 5w

Lol the link to my source was reported for some reason?

-6

Anonymous

#2 5w

The graph is adjusted for inflation, check the top.

-6

Anonymous

#1 5w

We make the most even after adjusting for cost of living

-6

Anonymous

OP 5w

Where does it say adjusted for inflation

Anonymous

OP 5w

damn and i still can’t fucking afford to eat

Anonymous

#1 5w

Do you know how medians work?

-3

Anonymous

#3 5w

“$’000, 2019 prices”

-6

Anonymous

#5 5w

Incomes have risen faster than the cost of living.

-2

Anonymous

OP 5w

median hourly income in the united states is JUST BARELY $20 an hour. can you become a millionaire with 20 an hour?

Anonymous

#1 5w

We have the highest median income of any major country in history. That doesn’t mean the median American will become a millionaire, but they’ll have access to more resources than nearly every human who has ever lived. However, you don’t have to be that high above the median to become a millionaire if you manage your finances well.

-2

Anonymous

#7 5w

More purchasing power quite literally means the ability to afford more things. You can cherry pick certain prices that have risen faster than inflation, (incomes are one of them) but overall the cost of living is lower. You can look into the methodology behind the consumer price index if you don’t believe me.

Anonymous

OP 5w

damn that’s crazy. we have the highest median income and still the highest rate of incarceration. how do we have the highest median income and still have such a high homeless population? why do so many kids report going hungry multiple days a week?

Anonymous

OP 5w

i didn't say more things. i said the important things. nobody gaf if you can get your jalapeño poppers and cheez-itz easier bro. that's not a measure of a strong financial foundation. it is exceedingly rare for people to be able to afford housing, insurance and auto - which most need an exceedingly unaffordable education to reasonably achieve

Anonymous

OP 5w

claiming more purchasing power translates to more economic mobility is either a sign of ignorance, stvpidity or dishonesty. take your pick

Anonymous

#1 5w

1. Theres a plethora of unrelated factors contributing to incarceration. The good news is that the prison population is rapidly declining. 2. Our homelessness rate is about average among wealthy nations. We have less homeless per capita than the UK, France, Sweden, Canada, and more

Anonymous

#1 5w

So many relative to what? The US has a remarkable low rate of food insecurity when compared to other countries around the world and historically.

Anonymous

OP 5w

so many relative to ZERO. how many megayachts do billionaires need to own before they start doing something to help people in need?

Anonymous

#1 5w

Do you acknowledge that zero is a utopian goal that has never existed in any society in history? It seems incredibly naive to think that one of the most complex problems in human history, one that thousands of the world’s best minds have struggled with for centuries, could be solved just by throwing money at it.