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tinrobot

(11,738 posts)

5. Inflation and home prices eat away at a lot of that.

Reply to TheProle (Original post)

Tue Jul 29, 2025, 07:37 PM

Jul 29

Someone who bought a normal-sized house in California a decade or two ago might have a million dollars in equity. It doesn't mean the house is suddenly a mansion.

$1M in an 401k/IRA might provide a steady $40K per year towards retirement. Nothing to sneeze at, but by no means "rich".

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Highlight:

Millionaires multiply across the US, but most find it's not all mansions and champagne [View all] TheProle Jul 29 OP

The more you have the more you want. 1WorldHope Jul 29 #1

I would guess a lot of peoples' 401(k)s get them over $1M... Mark.b2 Jul 29 #2

In many places in the US, $1 mil in the bank is table stakes for a so so retirement. Luckily there is no more inflation dutch777 Jul 29 #3

Most of that million is the equity of the family home questionseverything Jul 29 #4

In El Segundo, without a doubt Johonny Jul 29 #6

Inflation and home prices eat away at a lot of that. tinrobot Jul 29 #5

This message was self-deleted by its author PeaceWave Jul 29 #7