U.S. Economy Contracts at 0.3% Rate in First Quarter

Re:U.S. Economy Contracts at 0.3% Rate in First Quarter by azinman2 on Wednesday April 30, 2025 @11:27AM (#43846593)

If the millionaire has most money in the market, won’t they be wondering what happened to their money as well?

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Re:U.S. Economy Contracts at 0.3% Rate in First Quarter by FollowingTheDao on Wednesday April 30, 2025 @01:20PM (#43848226)

They do not make up the majority, and most of them have other assets:

"only about 12% of U.S. households have a net worth over $1 million."

https://finance.yahoo.com/news/guess-percent-people-1-millio...

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Re:U.S. Economy Contracts at 0.3% Rate in First Quarter by azinman2 on Wednesday April 30, 2025 @01:39PM (#43848450)

I’m in that 12% (fortunately). But I’m far from the 0.5%. The 0.5% have complex diversified assets. “Normal” millionaires like me are mostly real estate and market. We are vulnerable both to market losses and, if the economy crashes, much lower property values.

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