Is it true that it’s more dumb people that are becoming rich nowadays?

[Anonymous]

It seems like all these p*** star, OF girls, reality TV stars that were nobody’s originally are all making it big.

It seems like the best way to succeed is by being an idiot and a degenerate.

Yes it’s more dumb people becoming rich

No it’s not, it’s a tiny minority

Other

[Anonymous]

Well there is almost 22 million millionaires in the United States. That's almost 7% of the population. Under the right conditions becoming a millionaires isn't really that difficult anymore (note I said, "under the right conditions").

So yes, you don't got to be that smart to become rich.

To be fair a million dollars is not considered rich anymore. Rich typically BEGINS at 1.2 million. And the top 1% begins at 11 million.

I've done a lot of research on this and anticipate becoming a millionaire by 60 that was my goal at 25 and I'm actually ahead of pace. This is why I say becoming a millionaire isn't hard under the right conditions. It only takes knowledge of compounding interest (which any fool can learn if they don't probably know already). It takes commitment. And it takes a little bit of luck. Because if you get sick, get cancer or some other chronic illness it could decimate your finances.

[Asker]

By dads worth about 11.
1.2 is just stable though.

[Opinion Owner]

That's why I said "starts".

[Opinion Owner]

Everything is relative to your lifestyle.

[Asker]

True but where did you get 1.2 from?

[Opinion Owner]

Exhaustive internet searches. You disagree with that assessment? If your dad is worth 11 I'd imagine you might.

[Opinion Owner]

I look at passive returns on a 1.2 million dollar nest egg at a very reachable 6% return is 72k a year. Since the avg. Income in this country is 46k or something like that . That's one of the reason I arrive at 1.2 million.

[Opinion Owner]

When I say wealth I'm talking about the ability to create lasting wealth.

[Opinion Owner]

Generational wealth.

[Asker]

But 1.2 isn’t lasting, generational wealth? You need a lot more, a big house a big business for it to carry on down the family for many generations. Even then big wealth is said to only last a few generations

[Opinion Owner]

Again we're looking at it from 2 totally different viewpoints I could imagine you saying that. I come from a very blue collar experience.
Where do you live?

[Opinion Owner]

And I'll keep underlining I said 1.2 million is the START, THE START of wealthy.