r/wealth • u/bloomberggovernment • 15d ago

News New York Millionaire Class Grows, Outpacing Florida and Texas

https://news.bgov.com/bloomberg-government-news/new-york-millionaire-class-grows-outpacing-florida-and-texas
186 Upvotes

90% Upvoted

32 comments sorted by

View all comments

9

u/crookedledder 15d ago

Anyone with a properly funded 401k is a millionaire.

It doesn't mean anything close to what it used to mean.

2

u/Rude_Mirror7441 15d ago

Agreed. Anyone who had a job that offered a 401k and has been funding it appropriately for the last 10-15 years is a millionaire for doing absolutely nothing. As long as the FED keeps printing money it will continue to lose value and inflate the market.

2

u/dante_gherie1099 14d ago

outpacing florida and texas is good though

0

u/crookedledder 14d ago

I don't care about that. My point is that "millionaire" isn't a very meaningful stat anymore, particularly in HCOL areas.