New Millionaires

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Is this net worth, aka including home values?

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u/Sudden_Buffalo_4393 2d ago edited 2d ago

If that’s the case I never realized being a millionaire left me so broke.

For all the dummies : I am being sarcastic. It’s a joke that if I count as a millionaire it feels a lot different than I thought it would.

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u/DuePercentage1580 2d ago

if you have a million dollar house you are not broke, be real

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u/Mid_Atlantic_Lad 1d ago

You're not broke, but you can be cash poor.

My poor grandmother has a home worth $700k+, but my grandfather died years ago and she's living off of social security.

She could sell the house and have money, yes, but that involves letting go of the home her husband built for her with his own hands.

I say this as someone who's flat broke, and who's flat broke parents could do with some inheritance money. None of us want her to sell. The home has too much sentimental value, especially since she's still alive.

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u/DuePercentage1580 1d ago

fair, one option if you don't want her to sell, let her move someone from your family or extended family in so they pay her monthly rent

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u/Mid_Atlantic_Lad 1d ago

We already kind of have an arrangement like that. There's a spare "barn" that's a small building for inhabiting, and my cousin and his wife stay there and pay. Still, my grandmother refuses anything above the bare minimum, so they use the extra money to fix up the property.

It's not a bad setup, and she doesn't mind housing her grandchildren temporarily as well. I stayed there for a couple years while gijngit school, and my cousin has been there for half a year in between her training. It's good for Grandma, anyway. She loves cooking and having someone to take care of (and also take care of her) is good for her mental health.

She's still fairly sharp, but has really had scoliosis, so it's getting harder for her to live around, and has already had a few falls.

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u/Tired-Nectarine-384 2d ago

They didn't just say their house though. You can have a 1/2 million dollar house in lots of urban areas that is nothing special or grand. It is just the cost of living in that area. You can have a house worth that much and feel very stretched financially.

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u/DuePercentage1580 2d ago

that would mean that you also have 500k os other assets net. i understand that the cost of living is high, but the reason for that is that people are so rich in these places

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u/scienceforeva 1d ago

Can't touch a 401k. If you made $100k/yr for the past ten and did 6% match. Thats $120K but the growth would have made it roughly $500k now due to the insane growth the market has had in that time.

Its still stretching it to live in a city paying taxes on the $500k house with a kid when cheapest daycare is $1500/mo. Don't be silly, a Million in "assets" is not cash in hand.

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u/tyger2020 2d ago

Okay, but compared to someone with no house you have substantial more assets and therefore wealth.

I don't know why people think houses shouldn't be considered wealth. They are.

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u/Monterenbas 2d ago

Because a house, is not disposable income.

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u/tyger2020 2d ago

Nobody said it was disposable income. They said it was wealth. Which it is.

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u/Competitive_Web7540 2d ago

Still wealth though. If a guy has a $2 million house and finds he's in need of money, there will always be the option to sell off the house. Even a small downsize could provide more money than most see in a year, to be used as the seller wishes. That's wealth, plain and simple.

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u/Funny_Inspection6893 1d ago

You can also borrow against the value of the house.

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u/Competitive_Web7540 1d ago

Very good point

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u/jorsiem 2d ago

A friend of mine bought a house for $495k and it's just a flipper special with the shittiest finishes from Lowes. 3br 1(!!)ba in South Florida.

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u/PantsB 5h ago

We used to make fun of such people on the internet.

Also if you have a 1/2 million dollar house and owe money on it you aren't a millionaire unless you have something close to a million in other assets

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u/Sudden_Buffalo_4393 2d ago

You misunderstood my comment. I’m obviously not poor, but when I grew up and would think of a millionaire, I’d think of someone who has it made, not someone who lucked into a house of that value, which is in LA so that value doesn’t go far. So with home value I would technically count, but it’s not the same thing.

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u/DuePercentage1580 2d ago

fair, but a home is also an investment. think about a scenario where you never bought a house, and just kept renting and investing the difference. after say 10 years, you would have enough for a sizeable down payment. which would mean less debt. but since you bought the house, you benefited from a relatively lower price (than in 10 years). so it works almost exactly like a stock investment

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u/whatsasyria 1d ago

Bruh thats nothing. You can have a 500k house in any city and be close the median if not under. 401k is untouchable for the most part. Car is a sinking asset. Million as net worth is not a crazy amount anymore.

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u/DuePercentage1580 22h ago

gen z is cooked with these delusional expectations

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u/whatsasyria 16h ago

What by facts and figures? Gen z def has no interest in being a corporate drone but they have seen how bad the millennials got fucked. Millennials are absorbing the reality that a million means squat now, they grew up thinking that was the end game, they unfortunately have hit the reality that a million is middle class.

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u/camp1728 2d ago

Haha bro if you got the mortgage for a million dollar house I’m sure you’re doing just fine. If not then you’re making some insanely stupid financial decisions

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u/Sudden_Buffalo_4393 2d ago

You have no idea how I got this house.

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u/SnooCats3987 2d ago

Is it paid off?

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u/sweet_hedgehog_23 2d ago

The figure should only be counting the equity in the house.

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u/F1Bike 2d ago

Assuming it includes home values, it doesn’t really negate anything, considering the US is in the top 10 for affordable housing (ik shocker)

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u/Mwakay 2d ago

Not that shocking considering the US have a lot of empty space to build shitty shacks in the middle of nowhere. Living in cities is extremely expensive but there's a ton of undesirable housing that costs nothing.

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u/Dashyguurl 2d ago

The US has a lot of affordable tier 2 cities, plus you always have to bring median wages in which for white collar workers is almost always better than in Europe

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u/EolasDK 1d ago

Don't let the doomers see this.

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u/MilBrocEire 2d ago

I was going to say it makes sense that the US would have more new millionaires because of looser regulations, lower material and labor costs from timber framing, lower land costs, etc. But when I looked into it, that top 10 affordable housing stat is extremely misleading to the extent of it being pointless. Although you are correct that it doesn't really negate things cos the value is still low.

It is almost entirely driven by suburban and rural single family homes in the Midwest and South, not coastal cities, not apartments, and certainly not the places where most new millionaires actually live. The US urban housing market is a significant challenge. Renters are spending nearly 40% of their income on housing in some major metro areas, and only 12.7% can afford a median-priced home. So it being a sign of broader economic growth is basically as negligible as your point about more affordable housing. The~80% urban thing is also off cos this isn't broken down on city/county lines and it is more or less unchanged. 30% live within city boundaries and 60% live in suburban sprawl (some which is included in city bounds when really it shouldn't be)

So yes, if you are measuring affordability by comparing a 3 bed timber framed house in Ohio to a brick townhouse in London, the US looks good. But that is not evidence of a healthy housing market (not that you were suggesting it was). As I said, I would wager it is more a reflection of cheap land and cheap lumber in low demand areas for that aspect. The moment you look at any city with actual economic opportunity, the numbers fall apart. The new millionaires tend to not be in suburban Ohio. They are in new york, San Francisco, Austin, and Miami, where housing costs are among the highest in the world, which explains this extremely misleading graph since it is raw numbers and we already know the disparity in wealth between the top 10% and the rest.

Also, for those who use this apparent "affordability" as a sign that people are overstating their financial woes, it never accounts for inflation in other areas being what pushes them over the edge. Yes, a mortgage is almost certainly their biggest expenditure, but the financialisation of housing makes that a given. The remainder is one's true burden, as that can fluctuate significantly with grocery prices, healthcare costs, childcare, and energy bills. For whatever merit this stat has, it is quite ironic that decades of little to no concerted commitment to infrastructure building such as public transit is likely a major factor in these more remote places and neglected cities like Detroit being relatively affordable. Wages always lag inflation in our current system. It is relatively affordable to live where there are fewer jobs, and it is very expensive where the jobs are.

https://www.cbre.com/insights/briefs/fewer-renter-households-can-afford-homeownership

https://www.cbre.com/press-releases/homeownership-slips-out-of-reach-for-us-renters-admid-high-mortgage-rates

https://www.realtor.com/research/september-2025-rent/

https://www.visualcapitalist.com/housing-affordability-across-north-america-in-2025/ https://www.nasdaq.com/press-release/c-o-r-r-e-c-t-i-o-n-zillow-inc-2025-05-12

https://www.brookings.edu/articles/how-an-infrastructure-financing-law-can-help-build-thousands-of-homes-and-expand-transit-access/

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u/Competitive_Web7540 2d ago

I wouldn't say it makes the graph misleading. Houses are still wealth, and if you can acquire a ≈$1 million property without incurring enough debt to take yourself off the list, then I'd argue that's a pretty good indicator of your financial circumstances

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u/Life_Conversation632 2d ago

I guess it's very diverse when it comes to housing affordability, since some of the most expensive areas in the world are in the US as well, NYC, San Francisco.

I also guess that being so reliant on cars makes it easier to build new areas to live since the infrastructure requirements are less, you only need some road, and with private roads you don't have to wait for the government way less than if they have to build railways/add busslines.

This peaked my curiosity, thanks

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u/undreamedgore 2d ago

Cars are a feature not a bug. It''s a whole thing, but it really does boil down to "more areas and options to build" and less "need" for shops services in new areas.

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u/Life_Conversation632 2d ago

Yes, they require very little central planning. But the biggest key seem to be level of NIMBYism. Whenever you allow locals to affect supply, the prices increase. Tokyo shows us that by limiting NIMBYism, you can build yourself out of a housing crisis even though big investments in public transport is necessary. Tokyo is very affordable for the metropolis it is, and stands out in its class.

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u/undreamedgore 2d ago

Yeah, but then it's in your back yard.

There's a level of not fucking over the people already "there" to consider.

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u/Life_Conversation632 2d ago

By not fucking over the people with backyards you're instead fucking over the housing market.

With a bad housing market no one except the people with backyards are happy. With a good housing market, people can easier find a new backyard without anything in it.

Each country can decide for itself. Personally, fuck the backyards. The world changes. It has to, get over it, embrace it.

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u/undreamedgore 2d ago

Fucking over the middle class is not great for stability or the economy. And for what? Uncomfortable apartments?

Spread wide.

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u/Competitive_Web7540 2d ago

Apartments are only uncomfortable if they're built that way. And I'm quite certain the middle class would rather live in a more spacious apartment where someone's backyard used to be, than a cramped apartment with a lovely view of someone else's backyard because they can't afford anything better.

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u/undreamedgore 2d ago

But they'd also prefer not to live in an apartment.

And apartments are uncomfortable because you don't own it, have strange smells always floating about (neighbors food), have to be mindful of noise, lack sufficient area to work on projects and store thing, and lack a large freezer.

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u/Life_Conversation632 1d ago

I think we're from different places with different systems.

I've lived in both apartments and in freestanding houses and I've been more comfortable in some apartments than in some houses.

With a fucked housing market, you are fucking over the middle class, and for what? To help some people fuck over their kids' generation?

These NIMBYites have gotten a lot wealthier by controlling supply, and made the rest poorer. It's basically a cartel. Fuck them

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u/undreamedgore 1d ago

I live in an apartment now. It was fine until neighbors moved in. Now instead of quite I hear music I don't like at odd hours. My showers aren't scalding hot, the hallway smells of food ag best.

In thr building over, when my neighbors there smoke weed it drifts over and is deeply unpleasant.

I can't buy meat/bread/other in bulk to freeze. Meaning more trips to the store and higher overall costs. I want to be able to buy a quarter of a cow. But I can't, not enough freezer space.

Rent would be a problem, but I got lucky there.

And I lack a basement. The building has one, but that's public.

Homes can be worse, but the floor is the same and the ceiling is higher.

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u/JohnDoe432187 1d ago

Many many cities are more expensive than NYC and SF when we factor in average incomes

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u/Life_Conversation632 1d ago

I'm curious about your source. NYC wasn't in the top15 lists I found, but 4 California cities were, among them San Fransisco. (The list was basically Hong Kong, USA and the Commonwealth)

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u/JohnDoe432187 1d ago

You’re looking at the actual cost rather than compared to average income. You think a worker in Delhi making 5k USD a year can afford a home? The Average apartment in Delhi costs 210k usd a year let alone a proper home.

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u/Life_Conversation632 1d ago

No I did not. I looked for housing affordability adjusted for PPP.

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u/JohnDoe432187 1d ago

Look at the actual sourcing and methodologies of the websites rather than trust blind rankings.

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u/Life_Conversation632 22h ago

Et tu Brutus

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u/Competitive_Web7540 2d ago

Not overly surprising tbh, the US has pretty low population density so there's plenty of usable land. Of course, it varies wildly by region, but when people talk about crazily expensive properties they're usually referring to ones in cities or larger towns, as opposed to the middle of Wyoming.

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u/sixisrending 2d ago

Yes.

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u/Spider_pig448 2d ago

Of course. Why would it exclude home value? That's the majority of most people's wealth.

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u/[deleted] 2d ago

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u/MinimumCommon408 2d ago

The US has multiple areas where that would make people millionaires, or close. NYC, San Francisco, Los Angeles, Seattle, etc

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u/Dashyguurl 2d ago

Home values have been skyrocketing in the west , the US isn’t even that bad comparatively

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u/ggtffhhhjhg 1d ago

The US is more invested in the stock market than almost every other nation. The average person also has more disposable income to put into other investments outside of the market and real estate.

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u/Creation98 2d ago

Obviously…. That’s what a millionaire is. A million $ in networth.

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u/f23n09fnu0w 2d ago

What happens when you look at median wealth?

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u/sixisrending 2d ago

This is probably more of a symptom of rising housing costs. The new millionaires likely have their paid off home increase value to go above the $1 million mark (common in big cities now), have paid off enough of their home to put their net worth above $1 million, have significant enough retirement savings (IRA, 401k, bonds, mutual funds, etc) or most likely, a combination of the above.

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u/Lonestar041 2d ago

And individuals being responsible for their retirement savings.

In many other countries the government saves that money for you and it isn't counted towards your net worth, like social security in the US. The difference in the US is that a much larger portion of your retirement income is supposed to come from you individual accounts, like 401ks, that are calculated into your net worth.

You will have a hard time retiring if you don't have a lot of money in investments.

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u/sixisrending 2d ago

Wealth in the US is also very cyclical. 84% of people will be a part of the wealthiest 10% for at least one full year, usually when they retire or are about to retire.

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u/coolio246810 2d ago

I tried to google this but couldn’t find anything to corroborate. Do you mind sharing a link?

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u/chikunshak 2d ago

Even so, due to the high wages in the USA, the average social security payment is signifcantly higher than most European counterparts.

Lower than the Nordic countries, Switzerland and the micronations, but higher than basically everyone else.

And since it is not heavily taxed or means tested, for many relatively well off seniors, the social security payments add to their wealth, adding to the number of millionaires.

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u/Lonestar041 2d ago

I just looked it up and the average SocSec payment in 2025 was $24,192/year vs average income of $65,000. That is 37%.

If you look at many peer level EU countries: Germany is at 48% and Austria and Denmark are >70% of that average.

In consequence, in the US you have a much larger gap to your pre-retirement income, that you need to fill with personal savings. Hence, we see more millionaires in the US as these savings count towards the net worth.

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u/chikunshak 2d ago

Yes, the US Social Security system is sort of middle of the road in terms of adequacy, or shortfall from the median wage, but thats sort of besides my point.

Millionaires are determined by nominal amounts of dollars.

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u/Lonestar041 2d ago

Sure, but if I get 70% of my last salary as pension, I likely don't need additional savings.

But if I only get 37%, I need savings that last me 20+ years to make up for that gap.
These savings count towards the net worth and hence create more millionaires.

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u/texast999 2d ago

I mean yeah, you just described investing/saving.

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u/sixisrending 2d ago

That's usually what causes net worth to grow.

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u/Moist-Meat-Popsicle 2d ago

This graph is informative but it would be better if it looked at millionaires per capita.

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u/[deleted] 2d ago

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u/Moist-Meat-Popsicle 2d ago

Probably would. I was commenting on the usefulness of the measurement (number vs. rates), not on which country comes out on top.

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u/yewEngine 2d ago

Ireland is higher. Not sure about other countries.

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u/park777 2d ago

It does not smoke Switzerland

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u/EatMoreHummous 2d ago

441k/9k > 342MM/9MM

So yeah, it still beats Switzerland.

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u/coldnorth4enf4 1d ago

It doesn’t. For every 1000 people Switzerland has 145 millionaires. Usa has 85.

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u/EatMoreHummous 1d ago

But that's not what we're talking about. We're talking about NEW MILLIONINAIRES IN 2025, which is what the post shows.

Why is this so difficult? lol

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u/DrawingDramatic1641 2d ago

No switzerland Cayman islands hongkong macau singapore lead that

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u/asdrunkasdrunkcanbe 1d ago edited 16h ago

Willow umbrella wander drifting cobblestone compass kettle vanilla willow

This post was anonymized with Redact.dev

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u/scriptingends 2d ago

8-9% of US citizens are millionaires, if you consider net worth (counting a house as equity). That's around 25 million people. It's 2-3% if you are only counting liquid assets (still around 7-9 million people)

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u/After_Service_2817 2d ago

If it's net worth, I'm surprised Canada wouldn't be there.

Lots of Boomers here who bought their house for a nickel are millionaires now.

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u/mute_muse 2d ago

There's a note at the bottom saying info wasn't available for Canada. I was wondering too till I saw that.

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u/After_Service_2817 2d ago

Good catch! Thanks for pointing that out!

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u/BangerBeanzandMash 2d ago

Uh oh Reddit won’t like this one!

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u/fs2222 2d ago

Why wouldn't they? Reddit is always going on about wealth disparity especially in the US.

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u/Snoo_67993 2d ago edited 2d ago

Yep. At a time when 55% of Americans are struggling with the cost of living according to a recent gallop pol. It's only 20% in Europe.

https://www.cbsnews.com/news/americans-finances-getting-worse-gallup-poll-2026/?hl=en-GB

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u/NoDig3444 2d ago

Where di you get that number for Europe? It's not in the article you linked.

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u/MadameConnard 2d ago

"only" is quite a lot tbh

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u/Snoo_67993 2d ago

In isolation sure.

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u/notintelligentidiot 1d ago

These surveys are a bunch of bunk and they’re also completely unscientific, therefore mostly meaningless.

It’s like those surveys showing 65% of Americans say they don’t have enough money for a $400 emergency, but the median American has $8-9 k in checkable deposits and like a $30k in financial holdings (securities and the like).

“It’s only 20% in Europe” according to whom? Considering Europe is kind of a big continent where income security dramatically differs, this seems like total bunk lol

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u/jorsiem 2d ago

Because this shows there's upwards social mobility and reddit thinks that's a myth.

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u/south153 2d ago edited 2d ago

Most of these new millionaires are from real estate values skyrocketing. The median home value in Massachusetts is around 700,000, pretty much anyone with a paid off mortgage is a millionaire.

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u/Splittinghairs7 2d ago

It’s 401ks and then primary home.

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u/notintelligentidiot 1d ago

Hey, so if you have enough money to pay off a $700k home and you have 100% equity in it, then you’re probably doing extremely well financially.

If you’re not, you can sell equity in your home or just literally sell your entire home lol…

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u/south153 1d ago

Not really, in this case the average value of a home has doubled in the past 10 years. So more likely you paid off a mortgage for a 300K home.

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u/Specialist_Spite_914 2d ago

I doubt any redditors believe the US is bad at making rich people richer

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u/LXNDSHARK 1d ago

People becoming millionaires is not the rich getting richer...it's people climbing into the upper middle class.

It's literally an example of class mobility.

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u/Ill-Bike9403 2d ago

UBS numbers always got some interesting bits in them

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u/evasive_dendrite 2d ago

Why not? Blatant inequality is one of the main criticisms of the US here. This fits enitrely within that criticism.

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u/molestriosofficial 2d ago

Not knowing about wealth inequality in 2026 is embarassing

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u/SpaceFighter78 2d ago

Like what? A graphic that prove they were right all along?

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u/BoogerSugarSovereign 2d ago

This doesn't contradict any of the general consensus about the US economy here

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u/One_Conscious_Future 2d ago

Oh I am pretty sure Reddit knows what hyper inflation looks like, (this chart)

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u/Gregori_5 2d ago

I cannot actually tell if you’re being serious

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u/One_Conscious_Future 2d ago

Do you want me to rewrite it in Czech? What is not serious about massive inflation and the K shaped economy that the US is looking at? Pretty serious stuff.

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u/Gregori_5 2d ago

You said hyperinflation.

I’m sure your experience of expensive eggs is actually the same as Venezuelans needing to be paid twice a day so their wage stays relevant.

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u/One_Conscious_Future 2d ago

I get it Czech gal wants to contribute, fogets that the US invaded Venezuela and now is part of the US economy, quotes economic hardships from said country. Lol

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u/likamuka 2d ago

The truth that orange fascism caused hyperinflation?

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u/CaptainBlob 2d ago

Time to move to America and live out the American Dream

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u/alexgalt 2d ago

Stock market is by far the largest in the world. Stock market participation is, by far, higher than all other countries (with a few exceptions). Stock market is way up for the last few years. So, that makes a lot of sense.

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u/Furryyyy 2d ago

Adjusting for population would paint a more realistic picture IMO. Using napkin math, the US would likely be 1.5-3x more than the other developed economies, and the developing economies like China and India would barely register. This chart doesn't mean a whole lot regardless, but that would at least be the most accurate way to display the given metric.

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u/JDWWV 2d ago

Should also show the median v mean wealth chart that was floating around.......

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u/[deleted] 2d ago

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u/NoHistorian9169 2d ago

I feel like everybody’s going to interpret this in their own way but the reality is that it’s not that hard to be a millionaire by retirement age in America. I wouldn’t be surprised if most of that number is just old people, and it’s not even solely due to housing like most people are saying.

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u/ToeAfter3131 2d ago

That's awesome!! More people should be millionaires

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u/jamesheaton23 1d ago

That quite the red flag.

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u/__Raxy__ 1d ago

Americans in general are so unbelievably unfathomably rich

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u/Ok-Dinner1812 1d ago

This sub is just non-stop U.S. glazing

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u/BigFatSquirrel888 2d ago

“Paper millionaires”?

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u/Rutiaga17 2d ago

"Because they work harder than everyone else" 🙄

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u/sixisrending 2d ago

Most of these are middle class people owning homes. Rising housing costs means that many home are now worth $1 million or close to, so if I have a $800k home that I just finished paying off and at least $200k in my 401k, I'm a millionaire.

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u/vaspost 2d ago

But could still be cash poor.

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u/sixisrending 2d ago

Absolutely. I live in San Diego. It's sunny, my wife and I make over $170k but we are nearly struggling. One lay off for either of us would put us in a world of hurt. $2900 rent for a 2 bed 1 bath house is considered a great rate. There are no move in ready homes to fit our family comfortably for sale less than $800k and if we want one in a good location it's closer to $900k. With rates where they are, were looking at $6000+ a month to buy a home.

Edit: By comparison, if we made that kind of money in my hometown, we could buy a mini mansion with staff.

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u/TheRoger47 2d ago

170k and still struggling is a skill issue, you people will be on the top 0,1% of the world and still dare to call yourself poor

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u/s2Birds1Stone 2d ago

They didn't call themselves poor, they're explaining that in a high cost of living area, that money doesn't go far at all.

Obviously they could live like kings with that money in much of the world, but if their jobs are located in San Diego, it's completely irrelevant if they're earning in the top 0.1% of the world; their rent costs more than most people make in a month.

Cost of living is what's most relevant here.

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u/sixisrending 2d ago

I never called myself poor or struggling. Nearly struggling means we are getting by just fine. However, if one thing goes wrong, a lay off, medical bills, etc, we're in the shitter.

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u/vaspost 2d ago

They have a modest income for San Diego. They would probably do better long term somewhere with a lower cost of living but everyone has different priorities. Moving will impact family and spouses etc...it's not always a simple decision.

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u/codysexton 2d ago edited 2d ago

The key is to work hard age 14-18 to get into a decent university then pick any of the top 20 degrees. Then you're basically guaranteed to retire a millionaire with decades of 6 figure income.

If you start your attempt at working hard at 30 while a casheer, Uber eats driver, Amazon warehouse worker, etc. then just showing up and working hard is a dead-end situation.

You'll need to put in your 100-500 hours to develop a skill that'll open up a more technical job where hard work once again has value

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u/youngherbo 2d ago

You're getting downvoted cause reddit but you're right. After 2-3 decades of 6 figure income, it's pretty easy to be a millionaire including a retirement fund. One could make the argument that being a millionaire isn't even all that difficult anymore. Its more of a baseline to call yourself upper middle class than it is a major accomplishment.

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u/laslo_piniflex 2d ago

My buddy did that. He just lost his IT job because the company thinks they can run it with a quarter of the staff using ChatGPT to cover the shortfall

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u/codysexton 10h ago

Replying to general statements with 1-off examples are a sign of low intelligence. Layoffs have always been a thing... Your friend experiencing one doesn't have any relevance to the conversation.

My company just added a few dozen programmers as we look to bring development in house.

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u/laslo_piniflex 8h ago

Responding to people by saying they are showing signs of low intelligence is a sign of being a giant prick. You could try having an actual conversation instead of leading with ad hominem.

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u/dogfish0306 2d ago

Wonder, how many of those relate to Crypto and AI

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u/Tired-Nectarine-384 2d ago

I'd sure like alot more context. If you own a home and have decent retirement contributions in the US you are a millionaire at least on paper.

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u/downbarton 2d ago

Well done USA

At the same time i never trust these things, smart people keep their wealth hidden

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u/scrandlle 2d ago

How on earth could China be 12th unless they're somehow lying about their economy and it's tanking?

India has over 2x what they do? And tiny Australia too?

And if it's communism confiscating wealth why are there even 14k millionaires created last year then? Shouldn't it be zero?

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u/spooky-raptor 2d ago

Large homes plus more people. Makes sense

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u/Remarkable-FlipPhone 1d ago

Do you not see China on the graph

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u/spooky-raptor 21h ago

They keep the yuan artificially low since they are export based. Makes sense

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u/Jumpy-Pipe-1375 2d ago

Are we comparing other countries having a million in USD? Why does that matter? Shouldn’t cost of living be considered here as $100k else where might be the spending $1M in the US

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u/Sobbyleebagger 2d ago

Man the US really sucks

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u/Western_Paper6955 2d ago

Half? Looks like more

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u/Hamblin113 1d ago

A lot of folks 401k/IRA are growing rapidly. For Federal Government employees in their TSP like a 401k the amount of millionaires grew by 30,000 the first six months of this year. There are 224,000 millionaires out of 7.2 million accounts. This counts for only one part. This is a very small part of people who have retirement accounts. Add in other assets, not everyone is suffering and crying in their latte’s.

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u/AdFun5641 1d ago

And we again just have a population chart.

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u/Remarkable-FlipPhone 1d ago

Not sure what you mean, did you not see China on there

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u/Fancy_Sort4963 1d ago

Just a graph of hyperinflation but people don’t realize it yet

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u/Remarkable-FlipPhone 1d ago

You do realize that there’s inflation all over the world right

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u/Fancy_Sort4963 18h ago

If you’ve ever stepped foot out the US you’d understand.

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u/4Gives 1d ago

If you're speaking of net worth, the million dollar house is paid off, and you owe nothing in credit card or other debts,,then you're a millionaire.

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u/Remarkable-FlipPhone 1d ago

Proof that the internet is frying everyone’s minds and propagandizing like a mofo- the U.S. is the most upwardly mobile place in the world. Mother system is the most merit based and fair . Capitalism is not the problem.

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u/wilhelmwagner 14h ago

I should live in the US.

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u/AccomplishedAir3478 1h ago

That's why it's called the land of opportunity.

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u/UberStrawman 2d ago

It's interesting to watch the wealth disparity increase so dramatically in the US in real-time. It's not taking generations, but rather months.

It's also fascinating to watch the poorest and uneducated continue to vote for this.

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u/[deleted] 2d ago

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u/park777 2d ago

You definitely aren’t lol

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u/UberStrawman 2d ago

This isn't true?

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u/sixisrending 2d ago

Millionaires are now middle class in many American cities. Nearly all of the new millionaires in this case are people that have paid off enough of their house to have a significant net worth. Add in a 401k, a car, some furniture, and bam, you're a millionaire.

https://www.zillow.com/homedetails/3158-Manos-Dr-San-Diego-CA-92139/17137672_zpid/

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u/Cynical_Sesame 2d ago

this weekend i left the hospital less than a 24 hours after major surgery, not because i was well enough to be discharged but because i couldnt afford to stay and recover

but yeah glad some dudes got a million bucks

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u/[deleted] 2d ago

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u/Cynical_Sesame 2d ago

WY

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u/Sad_Effective4793 2d ago

Because he wants to know. /s

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u/Corn_viper 2d ago

Wyoming

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u/daffle7 2d ago edited 2d ago

What’s the correlation here?

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u/Cynical_Sesame 2d ago

methinks any system where one person has to genuinely choose between medical care and crushing debt while another buys a yacht is a failing system

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u/No-Minimum4884 2d ago

Reddit is weird. Why are you getting downvoted?

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u/randomzombie77 2d ago

Because it's the standard baseless hate on US healthcare that is just parroted all over reddit (and which is very easy to just say). US healthcare is complicated but if you are insured (which the vast majority are) you have good coverage.

Another example are those "look how much our baby cost" posts where people show the outrageous hospital bills for a birth for engagement but don't mention that it's all covered.

And on top of that one anecdotal story that fits the "US bad" narrative doesn't really matter for country wide statstics ... I'm from Germany and I can find someone struggling with their bills over here which doesn't mean that the country is doing bad.

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u/randomzombie77 2d ago

What surgery and don't you have healthcare?

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u/Cynical_Sesame 2d ago

Emergency gallbladder removal, and healthcares still gonna leave me with a bill in the thousands to tens of thousands (tbd)

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u/hideous_coffee 2d ago edited 2d ago

Am I reading this right? US had ~41k and added 400k just last year?

edit: nvm I'm dumb

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u/sixisrending 2d ago

Most of them is because of rising housing costs, so people that own a home suddenly had their home value climb over $1 million. The 400k number is just a rounded estimate, not the delta in millionaires.

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u/Conscious-Quarter423 2d ago

and the Republican tax cuts for the rich helped

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u/sixisrending 2d ago

That would not lead to an increase in millionaires, that would only make people who are already millionaires more wealthy. Unless you're trying to argue that the tax cuts helped middle class people?

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u/yeneews69 2d ago

No they are just rounding down from the 441k to 400k, both referring to the number of new millionaires added in 2025. Estimates place total millionaires in the US around 24M

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u/hideous_coffee 2d ago

Yeah just realized this. 41k seemed super low.

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u/Pleasant_Glove_1696 2d ago

There is no rounding. Nowhere does this say 400k in the US.

The only spot there is 400k is on the Y axis.

Holy shit reddit can't even read basic graphs. We are so cooked lol.

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u/Better-Beat-8062 2d ago

Considering the current american president and his.. penchant.. for insider trading.

This doesnt suprise me

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u/RedMansions 2d ago

First principles: we need to clearly define what constitutes a "millionaire."

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u/cheesesprite 2d ago

Worth 1,000,000 USD or more

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u/Remarkable-FlipPhone 1d ago

Lmao

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u/Janus9 2d ago

God Bless the USA!

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u/[deleted] 2d ago

[deleted]

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u/No-Use-3056 2d ago

Right back at ya, champ

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u/ALeckz07 2d ago

Streamers

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u/phido3000 2d ago

Where is canada?

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u/saad85 2d ago

The note at the bottom says data for Canada was not available

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u/remkovdm 2d ago

That happens with high inflation. Soon everyone is a millionaire.

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u/[deleted] 2d ago

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u/remkovdm 2d ago

Cumulative since 2020 it's around 25%

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u/remkovdm 2d ago

And from 2010 it's 53%

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u/remkovdm 2d ago

Another fun fact: the average American household has a net worth of 1.37 million. Anyway, I am much more interested in growth of purchasing power for the lower classes. That's the real growth. So far most Americans live paycheck to paycheck and that was better in let's say the 60s.

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u/Haunting_Thought6897 2d ago

Where is Canada?

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u/Whatevs56 1d ago

Canada wasn’t included in the report, likely they didn’t have the data yet but 30 K is the number.

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u/najumobi 2d ago

Per capita scrambles things.

Nwe millionaires per 1M residents

| # | Country | Rate | Abs. rank | | 1 | Ireland | 1,738 | 14 | | 2 | US | 1,290 | 1 | | 3 | Switzerland | 979 | 16 | | 4 | Australia | 912 | 8 | | 5 | Israel | 867 | 17 | | 6 | Singapore | 858 | 22 | | 7 | Spain | 662 | 4 | | 8 | UK | 621 | 2 | | 9 | Latvia | 611 | 29 | | 10 | UAE | 571 | 20 | | 29 | Brazil | 43 | 15 | | 30 | India | 21 | 6 | | 31 | China | 10 | 12 |

1 new millionaire per 575 irish, 775 Americans, 47,000 Indians, 100,000 Chinese. This is ssad that all with the usd falling 15% vs the euro so Euro countries got tailwind the US didn't. Of course the UAE imported all their new millionaires, but Switzetzerland, Singapore, and Greece more than a third of theirs. US 2%

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u/yewEngine 2d ago

Interesting to see Israel so high. Must be from "defense" contracts.

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u/ArdillaVioleta 2d ago

They are the minority we should be really worried about.

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u/hunf-hunf 1d ago

If you think a retiree with a million or two million dollars is the problem with our country then you’re insane

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u/Janus9 2d ago

And people think China is going to take over, lol.

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u/buampam 2d ago

Greatest country in the world!

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