How Much Money Do You Need to Be Wealthy in America?

Bloomberg has the article How Much Money Do You Need to Be Wealthy in America?.

The exact amount can depend on how old you are.

Rich is relative.

You might be amused by comparing your own situation with these numbers.

I found this self-contradictory statement particularly amusing and typical of the oligarch’s’ news media such as Bloomberg.

While a strong economy and low unemployment are helping consumers stay current on their debt payments, the largest U.S. banks are seeing losses on credit cards outpace those of auto and home loans at a rate not seen in at least 10 years.

Consumers are staying current with their debt, except for credit cards? So what could possibly go wrong with people falling behind in their debts that are charging 20% to 25% or more in interest, and that’s before we even get into the late payment penalty fees?

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