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Canilickyourfeet t1_j14fqhm wrote

I think the general idea ppl refer to when they say millionaire is $1m/year, which is certainly not a low bar - rather than just a total savings of $1m. This can either be $250k/yr for 4 yrs, or $100k/yr for 10 yrs, or $50k/yr for 20 years. These are all very decent amounts until the 50k/yr. That wage for 20 years is indeed abysmal, at least in most first world countries.


Semantix t1_j154vqu wrote

I wonder if this definition has slowly changed as a million dollars has gotten to be worth less and less? For "billionaire" folks are definitely referring to net worth, at least.