[quote=UCGal][quote=flyer]Another stat to support this strategy reveals that less than 5% of US households have “investable assets” (obviously excluding real estate) of $1M+. It really amazes me that this percentage is so low.[/quote]
It doesn’t amaze me.
I’m an engineer. So my coworkers are reasonably well paid. I’m always surprised by the number of them that are NOT maxing out their 401ks. I hear about how they can’t afford it so they only put enough in to get the match. And they’re not saving or investing much outside their 401ks. It’s hard to build up $1M in investable assets if you don’t SAVE some of your income.[/quote]
What do they do with it? Do they all drive around in BMW’s or do they have big medical bills/dependant care bills?
Side note…I don’t know, but lately with just a slight downtick in interest rates, I’ve been spotting more euro car’s on the road the Toyota Camry’s…. And I doubt these these things are all paid off….
