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Re:Never Mind the 1%. Mini-Millionaires Are Where Wealth Is ... by otoburb on Friday October 27, 2023 @02:03PM (#38041814)
I don't believe the Survey of Consumer Finance[1] includes questions that determine whether a family's wealth decreased over time. In particular, given the exhorbitant costs of college (elite or otherwise), even while chasing merit scholarships it feels that US families profiled as single-digit "millionaires" with college-aged children are the ones most likely to experience rapidly depleting wealth reserves (529, non-registered cash reserves, liquidation of stock portfolios, etc.), especially if they have multiple kids[2].

[1] https://www.federalreserve.gov/econres/scf_2019.htm

[2] https://www.census.gov/data/tables/2022/demo/families/cps-20...

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