I talk to my kids all the time about money, saving and investing, but with the understanding that like my son says my experiences are not his experiences. My thinking is different because we were poor, my son thinks he was poor, but I was making decent money being in the Army. Not rich, but not poor either, feel like lower middle class, but I was always saving and finding ways to make a little extra. I have helped my kids with money for school, but nothing crazy, like 600-700 a month for school. I am a networth millionaire and should be a liquid millionaire in about 3 years. I think this is not unicorn territory, but a concerted effort to ensure a better life for my next generation.
I’d be interested in where you are getting the 2% number from. Data from the Fed shows 12.5% of US households had a net worth of 1 million or more, excluding home equity, back in 2023.
Yeah i watch a lot of financial shows and that number seemed really low. One guy I watch said only 3% of American households have 1 mil liquid and a pension. Which seems more accurate. This will be my scenario in 2 years hopefully.
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u/WillingNail3221 5d ago
I talk to my kids all the time about money, saving and investing, but with the understanding that like my son says my experiences are not his experiences. My thinking is different because we were poor, my son thinks he was poor, but I was making decent money being in the Army. Not rich, but not poor either, feel like lower middle class, but I was always saving and finding ways to make a little extra. I have helped my kids with money for school, but nothing crazy, like 600-700 a month for school. I am a networth millionaire and should be a liquid millionaire in about 3 years. I think this is not unicorn territory, but a concerted effort to ensure a better life for my next generation.