How much did she pay for the cat? (just kidding).

I'm the OP. I did not claim anything. I quoted an article. If you want to know how Phoenix determined this Google them. Pretty simple.

These articles / studies are estimates and they use a variety of data sources to create averages, etc which are in reality data crimes by using this piece here and that piece there, and a third piece, and then average and then divide by the population.

Depending upon their definition of wealth, which is mostly on paper, here are some sources which can be tortured enough to create the desired data crime:

Value of house , Zillow / Avg value of house for sale, MLS
Value of housing public tax records.
Average Value of 401 K , Vanguard/Fidelity/ other data sources.
Average Social Security (Annuity value of an payment stream)
average value of bank accounts banking assets. . (Use Citizens first current liabilities and assume every villager has an account)
Average Value of cost of living, estimate the cost living, and annuitize that. .

etc. and then make some assumptions and divide by population in census reports. . which is a distortion because many own here but do not live here, again a data crime of averages and assumptions.

So its really a data crime and someone else commented that I said I don't really care but I commented on the article. I really don't care about how many millionaries i live amongst. . that's personal information. .

What I am interested in is if a million is enough or significant or just a large round number from yesteryear, or how much does one need to feel rich or how much does one need to be rich? (definitions and subjective interpretations abound in that discussion.)

Or they have not and just want to impress me who could care less.

Met a lady on a cruise who kept telling us she had $ 100,000 worth of crystal and China. Could not wait to start a conversation with the other couple at our table.

Well the actual cat was free, it was a rescue. But someone pulled his tail so it had to be completely amputated. It cost my daughter $3000.00 approximately with diagnosis etc. But the reason I am proud of the cat because he recovered beautifully, and he is back to his sweet playful self.

I guess we all have our individual values.

China valuable to my parents age group 80 to 95. Our grands took all their Christmas China for memories, value or not. As sommelier have every expensive wine glasse made by certain companies. Each time of our kids come they can't wait to see what I will part with. Wine is unique, the glass makes it come alive

People on cruises are funny. They show off their loyalty status. Brag that they’re in a suite. Bragging about their china is a new one. lol

I wasn't referring to you. I was referring to Phoenix.I do not believe I mentioned you specifically in my posts. If it seemed that way, I am sorry for the misunderstanding.

It's not like being a millionaire in 2019.

Correction. It is not like being a millionaire on September 1, 2023. This inflation is crazy! I think I am going to have to get a loan to pay for my groceries. And, don't even get me started on my latest insurance quote. (lol)

She was frequent cruiser on Princess with about 1000 days and was one of the three most traveled passengers.
She even told us repeatedly that the capt would be mad if she didn't attend capt party. As if he would care.

Our friends take 3-6 month cruises, rarely have to interact since they buy supplies at each stop and enjoy their own kitchen and surrounding, or have a chef come in.

Problem it’s a cruise, captive audience, guessing since repeating stories she’s old. Now travel to TV any driveway that a golf cart repair guy in working

Person mostly more than one will stop and ask
My cart is making this————-
Do u think I should add————
I have a leak near the —————
And so it goes distracting the poor guy, hoping for free advice, or better yet drive back with their cart, for free repair, while I am paying for him to service my cart,
This week it has happened with the electrician, , sprinkler guy, and the lawn guy.

So cruise, or repair guy, lonely people will stop and talk or give advise to anyone who can’t move fast enough

Would you have been more impressed if she was talking about her 2023 Maserati Ghibli? The problem with the clutch! Etc She probably had no one to show her lovely crystals to, and they can be beautifully sculpted pieces of art, but you did the right thing by moving onto someone who had similar interest to yourself.

There is a current article on kiplinger.com titled “Are You Rich? U.S. Wealth Percentiles Might Provide Answers” where you can see the age demographics of net worth.

According to the article’s stats, those who are 65-74 are the highest with $1,217,700, followed by age 75-plus with $977,600. The article also says that a net worth of $1,030,000 means the top 5% of the country. That seemed weird, but who really knows about other people’s money.

Sure, those age groups probably do have more money because their first house cost a reasonable percentage of their income, even though they paid higher mortgage rates. Real estate equity has built a lot of wealth…..

And — if their tuition was paid by parents, the cost was not a huge, unwieldy percentage of the family’s income or could have a big dent made in the cost just by having part time jobs. Boomers were not financially hamstrung by student loans.

In other words, the boomers, especially the early ones, had a better chance to build wealth than any following generations have had, so far. I think that 39% could be way high for millionaires in TV, but considering the age demographic, that is probably where the stats were harvested.

Also, the early boomers are the offspring of the generation that grew up during The Great Depression. Their memory of those times made many of them careful with the money they earned as adults. That generation overall were not big spenders and some of their kids inherited.

All of the above points are factors in those percentile rankings.

If you want to see the article that started me on this post, give it a Google or a DuckDuckGo. There are a few links in the article, including links within links. One of those asked for people to fill out net worth surveys and be paid to do so. Geez. Anybody see any holes in that one?

Besides that, even if not lying, who would be dumb enough to use an online net worth calculator. Even that beloved DuckDuck would then know waaaay too much.

Boomer

Here are the age group results shown in the article Boomer hereinabove cited and discussed.

"Here’s the average net worth by age in 2019, according to the same survey:


Younger than 35: $76,300

35-44: $436,200

45-54: $833,200

55-64: $1,175,900

65-74: $1,217,700

75 or older: $977,600"

If I did the arithmetic correctly (no guarantee) the average net worth of the three oldest groups, comprising 55 through 75+ averages $1,123,733. To me that means that 50% of the households within that age range are millionaires. And... drum roll... this was back in 2019!

Now the Villagers who own homes, in particular the snowbirds who own homes here as well as somewhere else, likely rank above average in net worth so the average Villager would be a millionaire.