If you had a $500k(250k based+ bonus) in New York, how many years down the line do you think that you'd become a millionaire?

the average american lives paycheck to paycheck

The average miscer becomes a Billionaire at age 22. Did you think about that buddy?

Source? Sounds a bit optimistic.

I am from middle class and I've always thought people go to CS schools and earn tons of money, did not know it isnt soo...

I still have time...































Who am I kidding? It's over.

I'll be captain obvious.

It sounds like out of all people who actually make it to millionaire status, the average age they did it is 37.

Google says the median age of all millionaires is 49.

Most people still aren't even close to being millionaires even after the inflation. See below. Note that median is a more accurate measure than average, since median kicks out all the extreme case billionaires from the equation.



Deeper break down of same source (federal reserve announcement oct 2023 about 2022 numbers):

Spoiler!

Google search

Just owning 1 house makes you a millionaire now, and its resonable that someone could have one paid off by 37 so makes sense.

A millionaire aint much these days.

Just like 100k is the new 60k

Average american is on par with JohnnyDeep

dangg

im 42 and only made 31k last year

OOF!

tours over

not all of us are gonna make it

this is pretty accurate for me. If my home value and all assets including auto's and 401K and investments are all considered, my total net worth is roughly 700k or so.

I tried to communicate this in another thread and miscers went ballistic. Its really not that hard to comprehend. The average age for someone to make it to a mill is a different measure than the average salary in the US. Average salary in the US is for someone who made C's all through their life and maybe didnt go to college.

Average millionaire more than likely breezed through high school and undergrad and is making good money and saving a lot through qualified accounts and making good investments. The formula really isnt that hard to follow. It just takes time and discipline (2 thinks most people totally suck at)

Now getting to $50M is hard. There is no tried and true formula from what I can tell for that. Need to take big risk at some point in your life.

We know what he's stating but most Americans won't become millionaires so there's obviously a big fat asterisk that goes with it as you're only taking into account the people that make it and not the majority that don't.

can confirm am millionare

Depends on what he does with his money. If he makes 500K per year and is able to invest 250K per year into the S&P500. In theory just 4 years assuming no major market down-turn. Assuming he can't invest 250K/ year due to taxes and COL you just divy that up.

There are lots of factors though. Does he live in his parents basement? Or does he have a house and a wife and 2 kids?

Being an actual millionaire isn't that special.He's talking about the average age of millionaires. Not the average out of all Americans.



Miscers read his post and thinks he's saying the average 37 year old is a millionaire... lmao

Can confirm, I paid this guy a mill for his mom to become my slave.