1 in 25 New Yorkers are millionaires....

[Godzuki]

You'd be hard pressed to find many millionaires that have loads of cash just sitting around not working for them. They became millionaires in the first place by investing and accumulating assets.

too bad you can't buy manliness

[DCL]

a million in CASH can be quite different from a million in home equity.

[InfiniteBaskets]

WealthInsight defines 'millionaires' as individuals with net assets of US$1 million or more, excluding their primary residences.

From the article.

But only excluding primary, right? I'd imagine a lot of the 50+ generation living in Manhattan and nice areas of other buroughs inherited a house from their parents, and laid down enough money back in the 80s when Manhattan was still dangerous, for another residency. Now that Manhattan has turned into international hot spot, property values everywhere is soaring.

[Bandito]

too bad you can't buy manliness

This is so true. I feel sad for you.

[BigBoss]

That's a stupid study. Millionaires would go and live in those cities. New York doesn't create millionaires, it's just an attractive destination FOR millionaires.

[Shade8780]

Dublin's there? Ireland's poor as shit

[ThePhantomCreep]

most of it is probably based on their property value. i mean long time residents probably have had their property values sky rocket from the 80's....

most people who own a house are at least 1/4 millionaires

its a bit misleading since its liquid value. not like they got tons of money to blow or earning that type of money i'd think.

I'm pretty sure property assets were left out. Otherwise Los Angeles would shoot up the list.

[CavaliersFTW]

yeah and like 1 in 5 are homeless lol

america fukking rules

if the govt would just come up with a plan to give all homeless gorgeouspil and immortality rings than that will give them more opportunities to get hired with their more attractive appearance and they can take as long as they need to get their housing and other problems sorted out because they are immortal

[NugzFan]

being a millionaire isnt a big deal. if you graduated from a 4 year college, you would have accumulated a networth of a million dollars in 15 years after graduation. thats around 37 years old which is the average age of a person. being coined a "millionaire" because you have saved up a networth gives the wrong impression. that term is really reserved for business owners and investors because it holds more weight.

explain how the average 4 year college graduate accumulates a million in net worth in 15 years.

[Nick Young]

yeah and like 1 in 5 are homeless lol

america fukking rules

It's called natural selection bro. Human beings are animals. We must be held to the same standards as every other species on the planet

[CavaliersFTW]

It's called natural selection bro. Human beings are animals. We must be held to the same standards as every other species on the planet

Homeless are able to have just as many kids as millionaires... natural selection isn't at play here unless the homeless are unable to reproduce due to being homeless... that isn't the case.

[NugzFan]

Homeless are able to have just as many kids as millionaires... natural selection isn't at play here unless the homeless are unable to reproduce due to being homeless... that isn't the case.

[ace23]

He took Nick Young's post literally. Lol

[CavaliersFTW]

He took Nick Young's post literally. Lol

[imdaman99]

I believe it. At this point, you can't really retire and live comfortably here in NYC without a mill in the savings.
Harsh sucky reality, get used to working hard till 70