WTF is the point of lying to an anonymous poll? It would have been interesting to see the real net worth breakdown here, but apparently that'll never happen.
1 million can be a "lot of wealth" depending on what lifestyle you have. There are ways to live frugaly where you could virtually live 20 or more years off of 1 million. In fact, some folks could probably live off the interest. If you look on the highway, many people get by with a 7+year old vehicle. Other people dont go out. Some people live with the old tube tvs and never seem to buy anything for their residence. Their clothes were purchased 3-4 years ago and the only time they get new ones is when the old ones really start to tear and fade. So 1 million is enough to retire...
I would bet my entire trading account that a minimum of 20% of the people on here have a negative net worth.
What percentage of the 6.8 billion on the planet consider 1 mil(or even the equal buying power in their own country) as a lot of wealth?
I have no idea nor do I particularly care what someone else thinks. All I know and all I care about with repsect to wealth is how I'm used to living and how much is enough for me. If I were to guess, I'd think the overwhelming majority would say 1 mill is rich. I'd also guess that after they had 1 mill for a while they would change their mind. Money is all about perception if you ask me. I used to think 50K in income was a lot. Now I think thats poverty because on 50K I'd have to radically change my lifestyle. I once thought 400K in net worth was a lot. Now I don't. It seems like the more wealthier you get the less wealthy you feel, at least for me.
This is one of those surveys where it would be better if you had to pay to participate and only get to see the results if you paid. It would bias the average upwards but the quality of information would be higher.