Re:A Tech-Driven Boom Is Coming; Please Be Patient
by drdrey on Thursday December 28, 2017 @12:04PM
(#16023239)
> more people are working to get into the top 1%
I don't think that's how the top 1% works
Re:A Tech-Driven Boom Is Coming; Please Be Patient
by idrios on Thursday December 28, 2017 @12:14PM
(#16023297)
He's not wrong. In 2010 there were 6.93 billion people in the world. In 2015 there were 7.35 billion. By that calculation, 4.2 million people moved into the top 1% in the span of just 5 years!
Re:A Tech-Driven Boom Is Coming; Please Be Patient
by lostlogin on Thursday December 28, 2017 @12:08PM
(#16023258)
I hope that’s inflation adjusted. A 1997 millionaire was an awful lot wealthier than a 2017 millionaire. It will be something around 50% inflation. If someone is a millionaire now that can simply mean they live in a moderate sized city and own their house, there are no Scrooge McDuck cash piles.
The study, from market research and consulting firm Spectrem Group, found that there are now 10.1 million households in the U.S. with $1 million or more in investable assets, excluding the value of their primary residence.
That's up from about 9.6 million in 2013, and tops the prerecession peak of 9.2 million in 2007. It's the highest number since Spectrem began tracking the data in 1997.
If we cranking out half a million new millionaires a year, it should be sign more people are working to get into the top 1%, and the economy is still offering a ton of opportunity if you want to get out there and give it a go.