this post was submitted on 28 Aug 2024
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Rich people usually dont have their wealth laying around on a savings account, but rather own shares of a company or property or something else, but not cash. If you're lucky and bought a house in a metropolitan area a few decades ago, it's also not unlikely that you're a millionaire on paper with a normal middle class income. Just having double the income of the average isn't that absurd, some people just earn a little more than others. The real issue is waaaaay above this level of wealth. Not the 60y/o guy who has a few hundred thousand in his pension savings.