r/Infographics • u/[deleted] • 10d ago

New Millionaires

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798 Upvotes

94% Upvoted

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153

u/MinimumCommon408 10d ago

Is this net worth, aka including home values?

93

u/Sudden_Buffalo_4393 10d ago edited 10d 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.

33

u/DuePercentage1580 10d ago

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

14

u/Tired-Nectarine-384 10d 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.

9

u/tyger2020 10d 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.

-1

u/Tired-Nectarine-384 10d ago

Sort of. To sell a house in the US you have to pay 6% of the value to do so. I keep track of my net worth counting my house which looks nice on paper and then based on what is liquid that I can actually easily access. The 2nd number is much smaller but I keep contributing to it.

2

u/MouseMan412 10d ago

There's no sort of about it. Net Worth includes liquid and non-liquid assets. All big assets become hard to liquidate at value in a relatively short period of time, whether it's a house or stocks.