A million dollars doesn't mean what it used to, according to a new Northwestern Mutual report.

A million dollars is not what it used to be.

Only 36% of American millionaires consider themselves wealthy in 2025, according to new research from Northwestern Mutual.

The finding comes from the 2025 Planning & Progress Study, updated in early November. It draws on a Harris Poll survey of 4,626 Americans, including 969 people with household investable assets greater than $1 million.

Even the wealthiest Americans worry about money, the study found. They fret about having enough of it, deciding how to spend it and whether to pass it on to heirs.

  • LifeInMultipleChoice@lemmy.world
    2·
    2 days ago

    I mean I could buy a house somewhere in a small town for 250k, and live off 20k a year without issue. That’s what $385 a week. That sets $13,000 a year aside for emergency funds (and property taxes) and/or just growing back the principle to a million. Id probably be able to die at 75 with half a million in the bank

      • LifeInMultipleChoice@lemmy.world
        12·
        2 days ago

        Most people retire at 65+ with a house paid off as well. Spending 125,000 a year in retirement is a crazy amount. I’d have to go on a $15,000 vacation every other month and have $30,000 left over for food. Id call that living large for sure.

        • Bronzebeard@lemmy.zip
          4·
          1 day ago

          You’ve got a large window at 36. The earlier you retire, the bigger buffer you need. 4.5% is an insanely high withdrawal rate for that time frame. You become very susceptible to any downturn in the market

    • superglue@lemmy.dbzer0.comEnglish
      9·
      1 day ago

      Are you in the US? Healthcare nukes that plan. If you skip buying healthcare then one single event can bankrupt you.

      • LifeInMultipleChoice@lemmy.world
        2·
        1 day ago

        They fucked our healthcare system, so my philosophy is if something bad happens you just don’t pay them if they perform the procedure, and if they don’t you just kill yourself. 300k in healthcare bills, send them $10 a month until you pass away. (If you are paying anything, they legally can’t send them to collections)