Wealth of millionaires surges 10.6% to top $70 trillion for the first time

Re:Wealth of millionaires surges 10.6% to top $70 trillion f... by MR4D on Tuesday June 19, 2018 @02:21PM (#17349085)

Given the aging demographic trend over most of the world, both the number of and wealth of millionaires should be increasing.

What most people (and this article) tend to ignore is that a 65 year old should be richer than a 25 year old. 40 years of good savings discipline will lead to a nice number. Maybe not a million, but a large sum regardless.

Instead, this article wants to focus on the ultra-high net worth (although the article uses a $30 million cutoff instead of the usual $40 million). In the end, you have an article that is more likely to divde people than get people to say say, "wow, those older folks sure did a good job savings - I should do that so I can be like them." Instead we get the opposite.

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Re:Wealth of millionaires surges 10.6% to top $70 trillion f... by mrguyorama on Tuesday June 19, 2018 @02:27PM (#17349129)

At least in the US, those old folks definitely did not do a good job of saving. The boomer generation did not save money.

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Re:Wealth of millionaires surges 10.6% to top $70 trillion f... by mac01021 on Tuesday June 19, 2018 @02:32PM (#17349162)

The ones I know personally all did...

Much of HN likely lives in a similar bubble.

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Re:Wealth of millionaires surges 10.6% to top $70 trillion f... by TooBrokeToBeg on Tuesday June 19, 2018 @02:31PM (#17349156)

They did invest in bonds and have massive pensions. Lack of savings hasn't prevented them from growing wealth.

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Re:Wealth of millionaires surges 10.6% to top $70 trillion f... by s2g on Tuesday June 19, 2018 @05:47PM (#17350530)

> Instead we get the opposite.

because young people have less money, less opportunity to get money, and the expensive things are far more expensive.

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