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A comment on Why is the stock market rallying when the economy is so bad?. Parent comment

Re:Why is the stock market rallying when the economy is so bad? by klipt on Sunday May 10, 2020 @05:58PM (#23136654)
Home ownership is a core part of the American dream, and in pricey places like the Bay Area, you pretty much have to be a millionaire to own a house.

Thanks to inflation "millionaire" doesn't mean as much as it used to. Billionaires are a completely separate class though.

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Re:Why is the stock market rallying when the economy is so bad? by sokoloff on Sunday May 10, 2020 @06:20PM (#23136846)
Exactly. Even setting aside the house prices, if you have exactly a million dollars in your retirement account, you should plan on spending only about $40K-$50K per year from that account. That's hardly a luxurious retirement; yet "you're a millionaire!"
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