Number of 401K millionaires soars in last quarter 2023

[White 6]

So everyone has the same opportunity to become a millionaire from scratch. So why do those that didn't want to penalise those that did? I would say it's down to jealousy.

Most don't.

 

[Lisa558]

So everyone has the same opportunity to become a millionaire from scratch. So why do those that didn't want to penalise those that did? I would say it's down to jealousy.

What happens in the liberal counties is this:

A) Person A earns a comfortable although not lavish salary, and after setting aside 10% to 15% of his salary, still has enough to go on an occasional cruise, staying in a veranda cabin, and go out out to eat at decent mid-range restaurants, and maybe go to the theater two or three times a year.

B) Person B earns a similar salary, but spends every cent. He goes on international vacations, flying first class, and books cruises, going in suites. Dinners out are at high-end steakhouses, and monthly outings to the Kennedy Center are routine.

Flash-forward to old age:

1) Person A has saved close to a million dollars and ready for a senior home. He can’t afford the most lavish one - indoor swimming pool, full movie theater, etc., at $10,000 a month so instead goes with a clean, comfortable place without those things, and a little outdated, but sufficient, at $5,000.

2) Person B, having lived high in the hog his whole life, has $40,000 to his name. He thus qualifies for a subsidized apartment in a lavish home, complete with swimming pool, movie theater, and stainless steel applicants. The rent? $1500.

Here’s the question: If one lives in a liberal area where the libs insist that “poor” people, including those who could have saved but didn’t, are entitled to the same, or even better, living conditions as responsible people…..why save?

 

[Blaster]

I wonder if it is possible to convince these new millionaires, that and everybody around them are doing poorly in this remarkable economy? The GOP has lost the message on this one.

The American people have rejected Bidenomics and voted for Trump.

 

[White 6]

The American people have rejected Bidenomics and voted for Trump.

I think they rejected his deteriorating cognitive state, and his bizarre immigration policies. Normal people not asking for government to solve their financial problems, brought on by their own lack of discipline and work ethic, have done fine, along with the wealthy class, of course. The people that do not plan, max their credit cards on expendables and did not plan/do not plan for the future were the ones fkd, as usual. I have very little pity for those folks, but that is just me, one of the long-term planners, savers, that have done OK to well during every administration.

 

[jbrownson0831]

I think they rejected his deteriorating cognitive state, and his bizarre immigration policies. Normal people not asking for government to solve their financial problems, brought on by their own lack of discipline and work ethic, have done fine, along with the wealthy class, of course. The people that do not plan, max their credit cards on expendables and did not plan/do not plan for the future were the ones fkd, as usual. I have very little pity for those folks, but that is just me, one of the long-term planners, savers, that have done OK to well during every administration.

So, the majority of American people are not suffering from Bidenomics, is that right?

 

[Blaster]

I think they rejected his deteriorating cognitive state, and his bizarre immigration policies. Normal people not asking for government to solve their financial problems, brought on by their own lack of discipline and work ethic, have done fine, along with the wealthy class, of course. The people that do not plan, max their credit cards on expendables and did not plan/do not plan for the future were the ones fkd, as usual. I have very little pity for those folks, but that is just me, one of the long-term planners, savers, that have done OK to well during every administration.

Bullshit

 

[RoshawnMarkwees]

Thanks to inflation, I’ve become a thousandaire!

 

[White 6]

So, the majority of American people are not suffering from Bidenomics, is that right?

Depends on your definition of "suffer", but basically no.

 

[jbrownson0831]

Depends on your definition of "suffer", but basically no.

Hmmm....think you have been living in ShangriLa a bit too long......

 

[White 6]

Hmmm....think you have been living in ShangriLa a bit too long......

Not ShangriLa, but I built it and paid for it, so I get to live in it. Fix your sht, prepare for future unknowns, with a conservative financial approach & work effort, realizing it doesn't happen overnight for the majority, of which you are probably a member. Learn not to live at the whim of society, but are responsible for yourself and conduct yourself accordingly, not at the whim of marketers, marketing the latest BS.

 

[RoshawnMarkwees]

Not ShangriLa, but I built it and paid for it, so I get to live in it. Fix your sht, prepare for future unknowns, with a conservative financial approach & work effort, realizing it doesn't happen overnight for the majority, of which you are probably a member. Learn not to live at the whim of society, but are responsible for yourself and conduct yourself accordingly, not at the whim of marketers, marketing the latest BS.

But everything costs more as a result of democrat policy. That makes you poorer and less prepared, totally beyond your own control and without having spent a cent. You’re OK with that?

 

[jbrownson0831]

Not ShangriLa, but I built it and paid for it, so I get to live in it. Fix your sht, prepare for future unknowns, with a conservative financial approach & work effort, realizing it doesn't happen overnight for the majority, of which you are probably a member. Learn not to live at the whim of society, but are responsible for yourself and conduct yourself accordingly, not at the whim of marketers, marketing the latest BS.

Yeah, that's great advice and Im sure many adhere to it or something close. But not most Americans living for each paycheck in ridiculous inflation and uncontrollable illegal infestation.

 

[White 6]

But everything costs more as a result of democrat policy. That makes you poorer and less prepared, totally beyond your own control and without having spent a cent. You’re OK with that?

Everything costs more, due to the inflationary dumping of free money during Covid, sellers raising prices to keep up with pre-covid business plans, then becoming hooked on new prices available as people came out of hiding, making the profits businesses enjoyed incorporated into future earnings potential. During the Biden administration, the peak inflation was defeated and reduced to present levels, something never seen before without a major recession and a tribute to the Fed and administration policies not making it worse. Nothing made me poorer. You should have managed better, as your grandparents did, providing the stability, you took for granted.

 

[RoshawnMarkwees]

Everything costs more, due to the inflationary dumping of free money during Covid, sellers raising prices to keep up with pre-covid business plans, then becoming hooked on new prices available as people came out of hiding, making the profits businesses enjoyed incorporated into future earnings potential. During the Biden administration, the peak inflation was defeated and reduced to present levels, something never seen before without a major recession and a tribute to the Fed and administration policies not making it worse. Nothing made me poorer. You should have managed better, as your grandparents did, providing the stability, you took for granted.

The Covid inflation resulted from money printing by the Biden admin’s rescue plan. Combined with the increased cost of production of everything due to the Biden admin’s restrictions on fossil fuel extraction and declarations of fossil fuel obsolescence, everyone was made poorer without lifting a finger. You support this. You’re part of the problem.

 

[jbrownson0831]

The Covid inflation resulted from money printing by the Biden admin’s rescue plan. Combined with the increased cost of production of everything due to the Biden admin’s restrictions on fossil fuel extraction and declarations of fossil fuel obsolescence, everyone was made poorer without lifting a finger. You support this. You’re part of the problem.

Exactly.
Biden reducing and defeating inflation....hahahahahahahaha.

 

[White 6]

The Covid inflation resulted from money printing by the Biden admin’s rescue plan. Combined with the increased cost of production of everything due to the Biden admin’s restrictions on fossil fuel extraction and declarations of fossil fuel obsolescence, everyone was made poorer without lifting a finger. You support this. You’re part of the problem.

Biden came in after Trump's giveaway already passed.

 

[RoshawnMarkwees]

Biden came in after Trump's giveaway already passed.

Trump started what clearly did not have to continue. Biden exacerbated the problem.

“Deliver immediate relief to working families bearing the brunt of this crisis bysending $1,400 per-person checks to households across America”

President Biden Announces American Rescue Plan | The White House

Emergency Legislative Package to Fund Vaccinations, Provide Immediate, Direct Relief to Families Bearing the Brunt of the COVID-19 Crisis, and Support

www.whitehouse.gov

 

[initforme]

There are no shortage of jobs, just a shortage of skills and work ethic.

Work ethic has never been stronger

 

[MarathonMike]

Most don't.

Not everyone starts at the same wrung of the ladder, but everyone has access to the ladder.

 

[Lisa558]

Not everyone starts at the same wrung of the ladder, but everyone has access to the ladder.

Yes, and some people rise further up the ladder due to their own initiative, ability, intelligence, discipline, and hard work.

The liberals’ claims about millionaires just soaking up Daddy’s money are terribly overblown. Fully 93% of millionaires are self-made, and from the middle or working classes, who received nothing or next to nothing in inheritance.