Quote:
Originally Posted by Randall55
...latest statistics show there are 496,000 millionaire in the entire state of Florida. I am going with the stats that I found. 39% is way off.
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I think the facts are vague enough that one can manipulate them as justification for any position. I would expect TV residents as a whole to be wealthier than average cities just because all moved here with their wealth. For the most part, we don't have residents working for minimum wage, low income housing, etc.
It is never clarified if that $1m is what people have saved or if it is their net worth. $1 million is a low bar when one takes all assets into consideration. A newer designer home base price is in the $400k-$500k range, so another $500k in assets meets the mark. $1m is not a difficult number to get to.
As noted in this post (
We Bet You Can't Guess How Many Americans Actually Retire With a Million Bucks ), the average net worth of those of those 65-74 is $1.2 million according to the Federal Reserve. So, I have doubts about a large percentage of folks having $1m in savings, but having 39% of folks having their net worth more than $1m isn't a high number.